Bloomberg News

Russia Equity Movers: Federal Grid, Fesco, Nordgold, Transneft

May 18, 2012

The 30-stock Micex Index (INDEXCF) fell 1.3 percent to 1,271.8 by the close in Moscow, losing 8.2 percent in the week, the biggest weekly drop since September. Russia’s dollar-denominated RTS Index retreated 1.8 percent to 1,289.46.

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

OAO Federal Grid Co. (FEES RX) slid 0.1 percent at 22.75 kopeks after slipping as much as 5 percent earlier. Russia’s high-voltage power transmission monopoly retreated for a second day on bets a reduced investment program for 2012-2014 signals the government will raise prices the state company charges by less than forecast.

Fesco Group (FESH RX) rose 4.7 percent to 9.316 rubles, the biggest gain in more than two months. Summa Group agreed to buy a majority stake in the Vladivostok-based shipping company for about $1 billion, said two people familiar with the deal who declined to be identified because the information isn’t public.

Nordgold NV (NORD) dropped 5.7 percent to 5 rubles in London, the lowest since the stock’s listing. The London-listed Russian gold producer reported a 30 percent plunge in first- quarter profit from a year earlier.

OAO Transneft (TRNFP RX) retreated 2.3 percent to 43,798 rubles, slumping for a fifth day to the weakest since Nov. 16. The management of Russia’s oil pipeline operator opposes increasing dividend payouts before 2015, Renaissance Capital wrote in a report, citing company First Vice President Maxim Grishanin.

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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