OAO Severstal, OAO Razgulay Group: Russian Equity Preview

Oct. 28 (Bloomberg) -- The following companies may be active in Russian trading. Stock symbols are in parentheses and share prices are from the previous close.

The 30-stock Micex Index rose 1.7 percent to 1,525.52. The dollar-denominated RTS Index gained 4.1 percent to 1,592.93.

OAO Severstal (CHMF RX): A $730 million, 18-year loan to Severstal’s American unit from the Department of Energy as part of a plan to spur development of technology in auto production is being questioned by a committee of U.S. congressmen. Severstal, Russia’s second-biggest steelmaker, rose 1.8 percent to 440.50 rubles.

OAO Razgulay Group (GRAZ RX): Russia may not reduce the tax on imports of raw sugar next year because of record domestic sugar output, said Andrei Slepnyov, deputy economy minister. Razgulay Group, a Russian rice and sugar producer, rose 0.1 percent to 35.5 rubles.

--Editors: Glenn Kalinoski, Brendan Walsh

To contact the reporter on this story: Marina Sysoyeva in Moscow msysoyeva@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net