The 30-stock Micex Index fell for the first time in three days, retreating 1.4 percent to 1,308.30 by the close in Moscow.
The following were among the most active stocks in the Russian market today. Stock symbols are in parenthesis.
Federal Grid Co. (FEES RX) lost 5.7 percent to 18.07 kopeks, the lowest level since April 2009. OAO RusHydro (HYDR RX) declined 3.2 percent to 78.89 kopeks. The high-voltage transmission monopoly and Russia’s biggest hydropower generator tumbled after Vedomosti reported state-owned Rosneftegaz may spend as much as 130 billion rubles ($4 billion) to buy new shares of Russia’s state companies in the energy sector. Issuance of new shares may lead to the dilution of minority shareholders, according the Alfa Bank analyst Alexander Kornilov and ING Groep NV’s Igor Goncharov.
OAO Novatek (NVTK RX) dropped 3.1 percent to 288.91 rubles, the lowest level since December 2010. Russia’s second-biggest natural gas producer fell as the Finance Minister Anton Siluanov indicated Russia may raise taxes on oil and gas producers.
OAO Severstal (CHMF RX) declined 1.3 percent to 376.40 rubles. Bank of America Corp. cut Russia’s second-largest steel producer to neutral from buy, reflecting “lower-than-expected spot prices” and “lower pricing power” in the steel sector.
TNK-BP (TNBP RX) declined 2.6 percent to 81.8 rubles. BP Plc’s Russian venture retreated after Fitch Ratings said the company may face a “crisis” after the oil firm’s billionaire shareholder Mikhail Fridman resigned as chief executive officer.