Yandex Internet Search Share Gains, Mail.ru Falls: Liveinternet
Yandex NV (YNDX), Russia’s most popular Internet search engine, saw its weekly search-market share rise to the highest in 11 weeks, while Mail.ru Group Ltd.’s portion fell, data compiled by Liveinternet.ru show.
Yandex’s share of the Russian online search market rose to 59.9 percent in the week through April 8, the highest since the week ended Jan. 15, according to Liveinternet, an Internet- service provider and researcher. Yandex’s share averaged 59.6 percent over the past four weeks, the data showed.
Google Inc.’s (GOOG) share of Russian searches rose to 26.1 percent from 25.9 percent in the previous week, for a four-week average of 25.9 percent, according to Liveinternet.
The share of Mail.ru Group Ltd., the largest Russian- language Internet company, fell to 8.8 percent from 9.2 percent in the previous week, while the four-week average was also at 9.2 percent, the data showed.
Yandex’s U.S.-traded shares rose 1 percent to $26.89 at 3:24 p.m. in New York. Yandex has gained 36 percent this year after losing 21 percent from its May initial public offering in 2011, data compiled by Bloomberg show.
Global depositary receipts of Mail.ru (MAIL) fell 1.7 percent to $40.31 in London, bringing this year’s gain to 55 percent, data compiled by Bloomberg show. Yandex is trading at 33 times analysts’ earnings estimates, compared with 46 times for Mail.ru, according to data compiled by Bloomberg.
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