Sept. 30 (Bloomberg) -- The 30-stock Micex Index dropped 2.9 percent to 1,366.54 by the 6:45 p.m. close in Moscow. The dollar-denominated RTS Index slumped 3.5 percent to 1,341.09.
The following were among the most active stocks in the Russian market today. Stock symbols are in parenthesis.
OAO Razgulay (GRAZ RX), the Russian sugar producer, slid to its lowest level since April 2009, losing 5.6 percent to 29.7 rubles. White, or refined, sugar for December delivery dropped as much as $18.50, or 2.7 percent, to $656.20 a ton.
OAO Norilsk Nickel, (GMKN RX), the world’s largest producer of the metal, slipped by its most in a week, losing 0.9 percent to 6,991 rubles. Nickel declined 2.4 percent to $18,225 a ton on the London Metal Exchange.
OAO Sberbank (SBER03 RX), the nation’s largest bank, dropped by its most in more than a week, losing 5.7 percent to 70.54 rubles, after the Russian currency fell for a third day against the dollar. A weaker ruble encourages Russians to withdraw and convert ruble deposits, Sberbank’s main source of funding. VTB Group (VTBR RX), Russia’s second-largest bank lost 3 percent to 6.693 kopeks.
OAO Uralkali (URKA RX), plunged the most since May, losing 9.3 percent to 222.45 rubles. A U.S. Department of Agriculture report today showed higher-than-expected corn stocks. “Higher soft commodities stocks may lead to a decrease of their prices, which in its turn may force farmers to use less fertilizers,” pushing prices lower, Luis Saenz, chief executive officer of the U.S. unit of Otkritie Capital, wrote in an e-mailed note.
--Editors: Alex Nicholson, Linda Shen
To contact the reporter on this story: Jason Corcoran at Jcorcoran13@bloomberg.net
To contact the editor responsible for this story: Gavin Serkin at email@example.com