Bloomberg News

Russian Equity Movers: Mechel, Novatek, Gazprom Are Active

April 17, 2012

The 30-stock Micex Index (INDEXCF) fell 0.6 percent to 1,468.74 by 5:42 p.m. in Moscow. The dollar- denominated RTS Index fell by 0.4 percent to 1,581.28.

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

OAO Mechel (MTLR) , tumbled the most in two weeks after the Natural Resources Ministry said the company’s Yakutugol unit committed breaches at three areas that are serious enough to warrant pulling the licenses. The shares fell as much as 3.8 percent, the most on an intraday basis since April 4, and traded 2.9 percent lower at 270 rubles.

OAO Novatek (NVTK RX), Russia’s second-biggest gas producer, rose for the first time in four days after the company said it is considering joint ventures to develop Arctic gas fields with bigger rival OAO Gazprom and boosted planned production of liquefied natural gas. Novatek shares rose as much as 1.3 percent before trading less than 0.1 percent higher at 374.40 rubles. OAO Gazprom (GAZP RX) retreated 3 percent to 169.21 rubles, heading for its lowest close since Dec. 19, after President-Elect Vladimir Putin urged the government to raise taxes for natural gas producers.

OAO Rosneft (ROSN RX), Russia’s largest oil company, retreated 0.3 percent to 210.31 rubles, poised for the first daily drop in three trading sessions, as the price of Urals crude, the country’s export blend, fell 0.4 percent to $114.25 a barrel, heading for its lowest close since Feb. 2. The shares rose as much as 1.2 percent earlier after Exxon Mobil Corp. sold stakes in North American oilfields to Rosneft as part of an agreement to jointly explore off the coast of Russia announced late yesterday.

To contact the reporter on this story: Denis Maternovsky in Moscow at dmaternovsky@bloomberg.net

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


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