OAO TMK, OAO Novolipetsk Steel to announce first-quarter production results. Nomos Bank starts conditional trading on the London Stock Exchange after pricing its GDRs at $17.50 each ($35 a share) yesterday in an initial public offering. Billionaire executives meet at an annual conference organized by the Russian Union of Industrialists and Entrepreneurs.
ALL TIMES GMT +4
WHAT TO WATCH: *Nomos Bank GDRs start trading on the London Stock Exchange. *Shtokman Development AG CEO Alexei Zagorovsky will speak on results of the company’s board meeting and Shtokman project’s future at a press conference at midday. *The Russian Union of Industrialists and Entrepreneurs, a lobby group for the country’s biggest businesses and richest executives, holds annual conference in Moscow today. *IPO Congress at the RTS exchange at 10 a.m. *Top managers of Total, Gazprom, Sovcomflot, Bashneft, others take part in Russian Arctic Oil and Gas Conference.
EQUITY MOVERS: *TMK pipe producer to report first-quarter production results. *Novolipetsk Steel to report first-quarter production results.
MARKETS: *The Micex Index dropped 3.7 percent to 1,714.07. *The RTS Index fell 4 percent to 1,950.15. *Russia’s benchmark 2018 ruble Eurobond fell, pushing up the yield to 7.127 percent at the close of trading. *The ruble weakened 0.5 percent to 28.2900 per dollar and strengthened 0.5 percent to 40.3825 to the euro. *The MSCI Emerging Markets Index fell 0.4 percent to 1,156.99 at 9:04 a.m. in Moscow. *Crude for May delivery fell 0.5 percent in New York to $106.63 a barrel at 9:00 a.m. Moscow time. *Brent crude for June settlement declined 0.4 percent in London to $121.18 a barrel at 8:57 a.m. Moscow time. *Gold for immediate delivery declined 0.4 percent in London to $1,489.20 an ounce at 9:05 a.m. Moscow time.