Bloomberg News

Russia Equity Movers: Norilsk Nickel, Rosneft, Rusal Are Active

October 12, 2011

Oct. 12 (Bloomberg) -- The 30-stock Micex Index jumped 2.4 percent to 1,396.51 by the 6:45 p.m. close in Moscow, erasing an earlier loss of as much as 0.7 percent. The dollar-denominated RTS Index gained 3.9 percent to 1,407.77 rubles.

The following were among the most active stocks in the Russian market today. Stock symbols are in parenthesis:

OAO GMK Norilsk Nickel (GMKN RX) slid after Vedomosti reported Russia’s largest miner may need to get government approval for its buyback program, citing a letter from the Russian antitrust regulator. The shares dropped as much as 2.3 percent and closed down 0.8 percent lower at 6,284 rubles.

OAO Rosneft, (ROSN RX), Russia’s largest oil company, jumped for the second day this week, adding 3.3 percent to 198.09 rubles. Urals crude, Russia’s chief export blend, traded 2.5 percent higher at $110.79.

OAO Rusal’s (RUALR RX) Russian depositary receipts climbed in Moscow trading after China and Russia yesterday signed a deal whereby the world’s biggest aluminum producer will receive $1.4 billion to help fund a smelter in Siberia. The receipts rose 3.2 percent to 286.81 rubles.

--Editors: Alex Nicholson, Peter Branton

To contact the reporter on this story: Jason Corcoran at Jcorcoran13@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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