Russia Equity Movers: Gazprom, Norilsk Nickel, Sberbank, TNK-BP
The 30-stock Micex Index (INDEXCF) rebounded, adding 0.6 percent to 1,305.86 by the close in Moscow. The gauge declined 11 percent last month, the most since September. The dollar-denominated RTS Index rose 1 percent to 1,239.99.
The following were among the most active stocks in the Russian market today. Stock symbols are in parenthesis.
OAO Dixy Group (DIXY RX) gained 1.9 percent to 302.55 rubles. Interfax reported the food retailer plans to buy the stock of shareholders who don’t vote in favour of its loan at a 12 percent higher price than the closing level of the stock.
OAO Gazprom (GAZP RX) rose 2.1 percent to 151.53 rubles, the highest level since May 12. Russia’s biggest company and the country’s natural-gas exporter climbed after President Vladimir Putin said the planned South Stream pipeline may start natural- gas flows to the European Union as early as 2014 after construction starts at the end of this year.
OAO Norilsk Nickel (GMKN RX) climbed 1.9 percent to 4,920 rubles. Polyus Gold International Ltd. (PLZL RX) added 0.9 percent to 1,016.90 rubles. Morgan Stanley said the world’s largest producer of nickel and palladium and Russia’s largest gold producer will benefit from the ruble’s decline.
Preferred shares of OAO Sberbank (SBER RX) declined 2 percent to 55.24 rubles, having fallen as much as 5.2 percent earlier. Russia’s largest lender’s preferred shares retreated after Interfax reported Chairman German Gref signaled the securities will not be converted into ordinary shares in the near future. Sberbank’s ordinary shares declined 0.8 percept to 78.15 rubles as the currency weakened before rebounding.
TNK-BP (TNBP RX) gained 1.1 percent to 70.76 rubles, after falling as much as 11 percent on June 1. Russia’s third-largest oil producer rose on speculation BP Plc won’t sell its stake in Russia’s third-largest oil producer, unwinding a nine-year investment.
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