Bloomberg News

Russian Equity Movers: Bank Saint Petersburg, Etalon, Rosneft

October 13, 2011

Oct. 13 (Bloomberg) -- The 30-stock Micex Index fell 0.6 percent to 1,388.77 by the 6:45 p.m. close in Moscow, erasing an earlier gain of as much as 1.2 percent. The dollar-denominated RTS Index dropped 0.8 percent to 1,396.27.

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

Bank Saint Petersburg (BSPB RX) rose for a sixth day, its longest winning streak in more than a month, after the Russian lender was upgraded by JPMorgan Chase & Co. to “overweight” from “neutral.” The share price may climb 125 percent from current levels, JPMorgan said in an e-mailed note today. The stock rose as much as 14 percent and closed 7.7 percent higher at 94.10 rubles.

Etalon Group (ETLN LI) climbed to its highest closing price in three weeks after the Russian housing developer said net income rose 41 percent in the first half from the same period last year to $96 million. Its London-listed shares added 2.8 percent to $4.09, the strongest close since Sept 22.

OAO Rosneft (ROSN RX) dropped 1.5 percent to 195.06 rubles after the U.S. government reported gasoline supplies dropped last week, a sign oil demand may wane in the world’s largest economy. Crude for November delivery lost 1.8 percent to $84 a barrel.

--With assistance from Jack Jordan in Moscow. Editors: Alex Nicholson, Peter Branton

To contact the reporter on this story: Jason Corcoran in Moscow at

To contact the editor responsible for this story: Gavin Serkin at

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