Bloomberg News

Russian Equity Movers: Rosneft, Sberbank Shares Are Active

February 28, 2012

The 30-stock Micex index slid 0.6 percent to 1,583.80 by 1:30 p.m. in Moscow, dropping for a second day. The dollar-denominated RTS index fell 0.2 percent to 1,725.23.

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

OAO Rosneft (ROSN) (ROSN RX) climbed to its strongest level in three weeks, adding as much as 1.8 percent to 230.34 rubles, before trading up 0.8 percent at 228.09 rubles. Russia’s biggest oil producer gained after Kommersant reported it amended a supply deal with China National Petroleum Corp., ending a year- long dispute.

OAO Sberbank (SBER) (SBER RX) fell 0.6 percent to 99.10 rubles after climbing to more than 100 rubles a share for the first time in seven months. The 14-day relative strength index closed above 70 yesterday, the threshold that suggests to some traders that equities have been overbought. Bank Rossii First Deputy Chairman Alexei Ulyukayev said in Davos in January that the regulator would sell some of its controlling stake in Russia’s biggest lender when the stock price moved “closer to 100 rubles.”

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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