Norilsk Nickel, Razgulay, Rosneft, Rusal: Russian Equity Preview
The following companies may be active in Russian trading. Stock symbols are in parentheses and share prices are from the previous close in Moscow.
The 30-stock Micex Index added 0.2 percent yesterday to 1,676.41.
OAO GMK Norilsk Nickel (GMKN RX): The premium demanded for immediate copper supplies rose for a second day after a drop in stockpiles monitored by the London Metal Exchange increased concern about the availability of the metal. Russia’s biggest mining company fell 0.7 percent to 6,607.49 rubles.
OAO Razgulay (GRAZ RX): Favorable weather in Russia strengthened the country’s winter grain crops, said researcher SovEcon, which forecast the total harvest in 2011 at between 75 million and 85 million metric tons. The Russian grain and sugar producer added 0.1 percent to 45.506 rubles.
OAO Rosneft (ROSN RX): Crude oil for January delivery declined from a 26-month high in New York after failing to maintain a break through technical resistance. Russia’s biggest oil producer rose 0.2 percent to 219.91 rubles.
United Co. Rusal (486 HK): Russia’s market watchdog has registered United Co. Rusal’s local depository receipts program, according to a statement on the website of the Financial Markets Service. Rusal fell 0.2 percent to HK$10.02 in Hong Kong.
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