Bloomberg News

Russia Equity Movers: Sistema, Etalon, Lukoil Shares Are Active

February 22, 2012

Feb. 22 (Bloomberg) -- The 30-stock Micex index fell 1.3 percent to 1,538.17 by the close in Moscow. The dollar- denominated RTS index declined 0.8 percent to 1,642.01.

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

Etalon Group Ltd. (ETLN LI) surged 3.1 percent to $6 in London, headed for its strongest close in almost seven months. The company, which builds high-rise apartment blocks in Moscow and St. Petersburg, advanced after Goldman Sachs Group Inc. lifted its share price estimate to $10.50 from $8.50, citing real wage growth and consumer confidence.

OAO Lukoil (LKOH RX) fell 3.2 percent, its biggest drop since Dec. 9, to 1,778.9 rubles. Russia’s second-largest oil producer retreated for a second day after Chief Executive Officer Vagit Alekperov said the company plans to spend $155 billion through 2021, Interfax reported yesterday. “With such capex, we would have difficulty understanding how the company’s promise to raise the dividend payout can be carried out,” Troika Dialog analysts wrote in a research note today.

AFK Sistema (AFKS RX) advanced 2 percent to 27.003 rubles, the biggest gain in a week. Chief Executive Officer Mikhail Shamolin said the company would decide on a new share buyback “soon.” Sistema’s London-traded global depositary receipts advanced as much as 1.2 percent before trading down 0.9 percent at $20.

--Editors: Alex Nicholson, Ash Kumar

To contact the reporter on this story: Alex Nicholson in Moscow at anicholson6@bloomberg.net

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


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