Bloomberg News

Russia Equity Movers: Norilsk Nickel, Sberbank, VTB, Rostelecom

January 16, 2012

Jan. 16 (Bloomberg) -- The 30-stock Micex index dropped 1.1 percent to 1,447.26 as of 11:05 a.m. in Moscow, heading for the biggest daily fall since Dec. 21. The dollar-denominated RTS index declined 0.3 percent to 1,441.99.

The following are among the most active equities in the Russian market today. Stock symbols are in parentheses:

OAO GMK Norilsk Nickel (GMKN RX), Russia’s largest mining company, lost 1.4 percent to 5,267 rubles as nickel prices fell on the London Metal Exchange.

OAO Rostelecom (RTKM RX), Russia’s state-controlled telecommunications operator, dropped 1.1 percent to 152.40 rubles. Billionaire Suleiman Kerimov is in talks to sell his 6 percent stake in the company, Vedomosti reported, citing people close to Kerimov and the company.

OAO Sberbank (SBER RX) and VTB Group (VTBR RX), Russia’s two largest lenders, fell 0.7 percent to 83.15 rubles and 0.4 percent to 6.42 kopeks, respectively. Banking stocks worldwide tumbled Jan. 13 after Standard & Poor’s cut the sovereign ratings of nine euro-area nations. The news came after the Micex’s 6:45 p.m. close in Moscow.

OAO Severstal (CHMF RX), Russia’s second-largest steelmaker, fell 1.4 percent to 408.60 rubles. Severstal will spin off gold unit Nordgold NV this week after winning acceptances for a share swap from minority shareholders, it said today.

Nordgold global depositary receipts are expected to be listed on the London Stock Exchange on Jan. 19, the company said in a statement.

--Editors: Alex Nicholson, Stephen Kirkland

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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