Bloomberg News

Russia Equity Movers: MRSK Holding, Federal Grid Co., Rusal

May 14, 2012

The 30-stock Micex Index fell 3.5 percent to 1,337.42 by the close in Moscow. Russia’s dollar- denominated RTS Index fell 3.6 percent to 1,401.73, dropping 20 percent from this year’s March 15 high.

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

Federal Grid Co. (FEES RX) tumbled 7.2 percent to 21.42 kopeks. Goldman Sachs Group Inc. cut the stock to sell from buy on concern it will acquire OAO MRSK Holding and on slower-than- expected tariff growth. MRSK (MRKH RX) dropped 6 percent to 2 rubles, the lowest since September 2009.

United Co. Rusal (RUALR RX) dropped 3.9 percent to 189.98 rubles. The world’s largest aluminum producer snapped two days of gains after posting an 84 percent decline in first-quarter earnings as prices of the metal fell.

To contact the reporter on this story: Ksenia Galouchko in Moscow at kgalouchko1@bloomberg.net

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


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