The following were among the most active stocks in the Russian market today. Stock symbols are in parenthesis.
OAO MRSK Holding (MRKH RX) fell 5.1 percent to 2.011 rubles. OAO Federal Grid Co. (FEES RX) was little changed at 23 kopeks after falling as much as 4.8 percent. Power stocks slumped on a Kommersant report that Russia is delaying a revision of long-term tariffs for power distributors by four months to Nov. 1.
OAO Sberbank (SBERP RX) declined 8 percent to 60.02 rubles, the biggest drop since Oct. 4. Russia’s biggest lender fell on concern Greece’s financial crisis is worsening as the European Central Bank said it will temporarily stop lending to some Greek banks to limit its risk.
Russia’s lending growth is beginning to slow as banks run short of capital, the central bank reduces currency interventions and the Finance Ministry runs a budget surplus, Interfax reported, citing a Bank Rossii official.
OAO Transneft (TRNFP RX) retreated 6.5 percent, the most since Oct. 4, to 44,846 rubles. Russia’s oil pipeline operator fell to the lowest level this year as VTB Capital said its fourth-quarter earnings missed estimates after a $263 million trading loss.
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