Bloomberg News

Russia Stock Movers: Bank St. Petersburg, Federal Grid, Sberbank

June 08, 2012

The 30-stock Micex Index (INDEXCF) fell 0.3 percent to 1,332.92 by the close in Moscow.

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

Bank St. Petersburg (BSPB RX) dropped 2 percent to 55.91 rubles, the biggest decline since May 31, after the bank said first-quarter profit tumbled 94 percent on higher bad-loan provisions and interest expense.

Federal Grid Co. (FEES RX) declined 0.7 percent to 19.19 kopeks, dropping for the first day in five. Russia’s monopoly for high-voltage power transmission lines fell as JPMorgan Chase & Co. cut its price estimate, citing a lower-than-expected tariff increase.

OAO Sberbank (SBER RX) lost 2.5 percent to 81.33 rubles, the biggest drop since June 1. Russia’s biggest lender will stop acquisitions “for now” after buying Turkish Denizbank AS from Belgium’s Dexia SA for 6.47 billion liras ($3.5 billion), Chairman German Gref said.

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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