OAO Gazprom’s price swings fell from the highest level in almost a year on wagers Russia’s natural gas export monopoly will be included in the Moscow Exchange’s A1 equities investment list, boosting the stock price.
The company’s 10-day volatility subsided to 29.841, the lowest in a week, after touching 37.242 on May 15, the highest in almost a year. The shares closed up 0.1 percent at 126.48 rubles. Gazprom has declined 11 percent over the past 12 months.
Gazprom’s board of directors is looking at ways to boost transparency, according to an e-mailed statement today. One of the steps discussed is to include the company’s shares in the Moscow Exchange’s so-called A1 list of stocks that Russian pension funds and insurance companies can buy, the company said.
“Despite its long trading history, Gazprom remains outside the quotation list, which prevents institutional investors from buying shares,” Alexander Ivanischev, chief analyst at Infina Investment Co. in Moscow, said by phone. “The fact that the board of directors has decided to finally execute the listing is very positive news. This may lead to the stock’s growth, allowing it to rise to 140 rubles by the fall.”
OAO Rostelecom, OAO Lukoil and OAO Magnit are among about 30 Russian companies in the A1 list, according to the bourse’s website.
Gazprom, which is controlled by the government, has lost 26 percent of its market value since Sept. 14, as 2012 net income fell 9.5 percent, the first decline in more than a decade.