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Russian Equity Movers: OGK-6, Rosneft, Rusal, Sberbank

Aug. 29 (Bloomberg) -- The 30-stock Micex Index climbed 3.7 percent to 1,512.36 by the 6:45 p.m. close in Moscow, its biggest gain since May 2010. The dollar-denominated RTS Index rose 4.5 percent to 1,667.66.

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

OAO OGK-6 (OGK6 RX), one of the two wholesale power generators that Russian gas producer OAO Gazprom is merging, jumped the most in almost two weeks after reporting second-quarter net income of 240 million rubles ($8 million) following a loss of 103 million rubles a year earlier. The shares climbed 1.8 percent to 99.51 kopeks, the most since Aug. 17.

OAO Rosneft (ROSN RX), Russia’s biggest oil producer, surged the most since May 2010 as oil advanced and investors bet new tax changes will bolster revenue. The shares jumped 7.4 percent to 220.93 rubles.

OAO Rusal’s (RUALR RX) Russian depositary receipts dropped after the aluminum producer reported a 70 percent decline in second-quarter profit as prices slid and a one-time gain from asset revaluations wasn’t repeated. The shares lost 1.4 percent to 311.22 rubles. The Hong Kong traded stock closed up 3.6 percent at HK$8.29.

OAO Sberbank (SBER03 RX), Russia’s biggest lender, advanced 5.2 percent to 81.61 rubles, the most in 10 months. The bank is due to report second-quarter earnings tomorrow. Net income probably jumped fourfold in the second quarter to 88.2 billion rubles, from 20.7 billion rubles a year earlier, according to 10 estimates in a Bloomberg survey of analysts.

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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