Bloomberg News

Russia Equity Movers: Sberbank, Oil Producer TNK-BP Move

June 01, 2012

The 30-stock Micex Index (INDEXCF) fell for a third day, retreating 0.6 percent to 1,298.08 by the close in Moscow. The gauge declined 11 percent last month, the most since September.

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

OAO Sberbank (SBER RX) declined 3.7 percent to 78.75 rubles, the most in more than a week. Russia’s largest lender slipped as the ruble headed for the steepest two-week slump among global currencies tracked by Bloomberg. A weaker ruble encourages Russians to withdraw and convert ruble deposits, Sberbank’s main source of funding.

TNK-BP (TNBP RX) dropped 10 percent to 70 rubles, the lowest level since the stock listing in December 2010. Russia’s third-largest oil producer dropped to a record low after BP Plc said it will pursue a sale of its 50 percent holding in the company.

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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