Bloomberg News

Sberbank, VTB Group, Rosneft: Russian Equity Market Preview

October 04, 2011

Oct. 5 (Bloomberg) -- The following companies may be active in Russian trading. Stock symbols are in parentheses and share prices are from the previous close of trading in Moscow.

The 30-stock Micex Index lost 5.7 percent to 1,267.77. The dollar-denominated RTS Index dropped 5.2 percent to 1,224.92.

OAO Sberbank (SBER03 RX): The ruble depreciated against the dollar for a fifth day on concern Europe’s debt crisis will hurt demand for oil, Russia’s chief export earner. Shares of Russia’s biggest lender fell 8.5 percent to 62.53 rubles.

VTB Group (VTBR RX): VTB Group’s consolidation of the Bank of Moscow “will not negatively affect” the lender’s results, Deputy Chairman Herbert Moos said. VTB’s shares fell 7.2 percent to 0.06107 rubles.

OAO Rosneft (ROSN RX): Oil fell for a third day in New York amid concern that fuel demand will drop as investors lose confidence in the economies of the U.S. and Europe. Rosneft, Russia’s biggest oil producer, plunged 6 percent to 175.15 rubles.

--Editors: Brendan Walsh, Glenn J. Kalinoski

To contact the reporter on this story: Anna Shiryaevskaya in Moscow at ashiryaevska@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net


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