Novatek Falls First Day in Three on MSCI 10/40 Weighting Cut
The shares retreated 0.3 percent to 301.55 rubles by the close in Moscow. The benchmark Micex Index rose 0.7 percent to 1,290.72.
Novatek’s weighting fell to 4.5 percent from more than 9 percent, Troika said, citing MSCI’s data. The stock will see about $700 million in outflows as a result of the change, Troika said by e-mail today. The amended index weight will come into effect May 31.
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