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Russian Equity Movers: Federal Grid, PIK Group Shares Are Active

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July 28 (Bloomberg) -- The 30-stock Micex Index added 0.3 percent to 1,710.57 by 1:33 p.m. in Moscow. The dollar-denominated RTS Index increased 0.1 percent to 1,977.9.

The following were among the most active stocks in the Russian market today. Stock symbols are in parenthesis.

Federal Grid Co. (FEES RX), the Russian operator of high-voltage transmission lines, plans to sell 5.2 billion ($188 million) rubles of new shares to fund projects. The company’s board will consider the sale at a meeting tomorrow, according to spokesman Dmitry Gryzunov. The stock slid for a fourth day, retreating 1.1 percent to 37.15 kopeks.

PIK Group (PIKK RX) headed for its biggest gain in three weeks after the Russian property developer said gross cash collections jumped 57 percent in the first half as the country’s economic recovery drove demand for new apartments. Its shares rose 1.1 percent to 107.95 rubles, headed for its biggest advance since July 7.

To contact the reporter on this story: Jason Corcoran at Jcorcoran13@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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