Russia Equity Movers: NLMK, Magnitogorsk, Mechel, Petroneft
The 30-stock Micex (MICEX) index closed little changed at 1,568.54 in Moscow, advancing 2.8 percent in the week. The dollar-denominated RTS index rose 0.9 percent to 1,656.60.
The following were among the most active equities in the Russian market today. Stock symbols are in parentheses.
OAO Novolipetsk Steel (NLMK) (NLMK RX), Russia’s largest steelmaker by market value, rose 0.5 percent to 73.95 rubles after dropping 2.1 percent yesterday. Better-than-expected U.S. data spurred bets metal demand will weather Europe’s debt crisis. OAO Mechel (MTLR) (MTLR RX), the country’s biggest coking coal producer, climbed 1.3 percent to 322.20 rubles. OAO Magnitogorsk Iron & Steel (MAGN RX) increased 0.4 percent to 14.718 rubles snapping three days of declines.
Petroneft Resources Plc. (PTR) sank 38 percent to 9.13 pence as of 4:17 p.m. in London, its lowest level since 2009 and the steepest drop since the stock started trading in 2006. Production fell to 2,300 barrels a day “in recent weeks” from about 3,000 barrels a day at the end of last year, the company said in a regulatory filing today.
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