Bloomberg News

Russian Equity Movers: Norilsk Nickel, AvtoVAZ Shares Are Active

October 25, 2011

Oct. 25 (Bloomberg) -- The 30-stock Micex Index fell 1.4 percent to 1,462.17 at the 6:45 p.m. close in Moscow, its biggest drop since Oct. 17. The dollar-denominated RTS Index lost 0.6 percent to 1,500.05.

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

OAO AvtoVAZ (AVAZ RX) climbed as much as four percent to 22.987 rubles, its strongest intraday level since Sept. 8, and closed 1.7 percent higher at 22.469 rubles. Russia’s biggest automaker doubled first-half net income to 6.4 billion rubles ($210 million).

OAO GMK Norilsk Nickel (GMKN RX) dropped five percent to 6,307 rubles, its sharpest daily fall since Oct. 4. Goldman Sachs Group Inc. downgraded the world’s largest nickel producer to “sell” from “neutral,” citing a weakening outlook for the metal. Norilsk’s third-quarter production figures released yesterday were “unimpressive,” Troika Dialog analysts Mikhail Stiskin and Irina Lapshina said in an e-mailed report today.

--With assistance from Jason Corcoran in Moscow. Editors: Alex Nicholson, Linda Shen

To contact the reporter on this story: Jack Jordan in Moscow at jjordan22@bloomberg.net

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


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