Bloomberg News

Russia Equity Movers: Mechel, Novatek, Gazprom, MTS Are Active

May 02, 2012

The 30-stock Micex Index (INDEXCF) retreated 1.9 percent to 1,446.04 by the close in Moscow, its biggest drop in a week.

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

OAO Mechel (MTLR) fell the most in almost two months, retreating 6.1 percent to 244.50 rubles. Russia’s largest producer of coal for steelmakers declined as the European economic slowdown stoked concern demand for the commodity will deteriorate.

OAO Mobile TeleSystems (MTSS RX) climbed to the highest since Aug. 2, advancing 2.1 percent to 238.28 rubles. Investors are curbing bets Russia’s biggest mobile operator may have to buy its main shareholder’s Indian phone unit, Ksenia Arutyunova, an analyst at Rye MAN & Gor Securities in Moscow, said by phone.

OAO Novatek (NVTK RX) sank 10 percent, its biggest drop since February 2009. Russia’s second-biggest natural-gas company slumped after Deputy Finance Minister Sergei Shatalov said the government approved a plan to quadruple its mineral extraction tax for the second half of 2015. OAO Gazprom (GAZP RX) dropped 1.1 percent to 167.34 rubles. The natural gas export monopoly’s extraction tax rate may double in the same period, Shatalov said.

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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