Bloomberg News

Russian Equity Movers: E.On, MMK, Mechel, MRSK Holding, RusHydro

July 02, 2012

The 30-stock Micex Index (INDEXCF) rose 1.1 percent to 1,402.74 by the close in Moscow, the highest close since May 10. The dollar-denominated RTS Index added 0.5 percent to 1,357.34.

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

E. On Russia (EONR RX) rallied 5.5 percent to 2.4799 rubles. The power company’s board approved paying its first dividend in four years.

OAO Magnitogorsk Iron & Steel (MAGN RX) gained 2.4 percent to 9.465 rubles, the highest level since June 21. The Russian steelmaker climbed on speculation a court may strike down its proposed takeover of Australia’s Flinders Mines Ltd.

OAO Mechel (MTLR) climbed 0.4 percent to 206.30 rubles, the strongest close since June 21. UBS AG removed Russia’s biggest producer of coking-coal from its least-preferred stocks list, citing potential for a rally should prices increase.

OAO MRSK Holding (MRKH RX) retreated 1.2 percent to 1.757 rubles. The country’s largest electricity distribution company fell after shareholders approved its transfer under Federal Grid Co.’s management.

OAO RusHydro (HYDR RX) rose 3.4 percent to 81.56 kopeks, the highest in more than a week. Russia’s largest hydropower company gained as the government raised power tariffs following an 18-month freeze.

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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