Bloomberg News

Russian Equity Movers: Norilsk Nickel, Phosagro, Rosneft

November 04, 2011

Nov. 3 (Bloomberg) -- The 30-stock Micex Index fell 0.5 percent to 1,481.87 by 2:02 p.m. in Moscow. The dollar- denominated RTS Index lost 1.1 percent to 1,509.47.

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

OAO GMK Norilsk Nickel (GMKN RX) headed for its lowest close in almost a year after the world’s largest producer of the metal set an acceptance ratio of 10.95 percent for its $4.5 billion stock buyback, which closed last week. The shares fell as much as 6.2 percent and last traded 2.7 percent lower at 5,624 rubles. A close at that level would be the stock’s lowest since Nov. 16, 2010.

OAO Phosagro (PHOR RX) rallied for a second day after the Moscow-based fertilizer producer said phosphate fertilizer output rose 3.6 percent in the first nine months of the year. Its shares rallied 0.6 percent to 11,363 rubles, erasing an earlier loss of as much as 2.2 percent.

OAO Rosneft (ROSN RX), Russia’s largest oil producer, declined for the third day this week, losing 0.6 percent to 217 rubles. Crude retreated 0.4 percent to $92.15 a barrel in New York.

--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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