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Rusal, Rosneft, Lukoil, VTB, TNK-BP: Russian Equity Preview

Monday, Feb 14, 2011
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The following companies may have unusual price changes in Russian trading. Stock symbols are in parentheses and share prices are from the previous close.


Russia’s ruble-based Micex Index added 2.2 percent to 1,713.93 in Moscow. The dollar-denominated RTS advanced 1.9 percent to 1,881.90.


United Co. Rusal (486 HK): The world’s biggest aluminum producer will consider a $12.8 billion cash offer from OAO GMK Norilsk Nickel for its 20 percent stake in Norilsk.


Rusal fell 2.7 percent to HK$12.48 in Hong Kong.


OAO Rosneft (ROSN RX) and OAO Lukoil (LKOH RX): Oil fell to a 10-week low in New York after Egyptian President Hosni Mubarak stepped down and handed power to the military, reducing concern that crude shipments from the Middle East will be disrupted.


Rosneft, Russia’s biggest oil company, jumped 3.4 percent to 255.13 rubles. Lukoil, the second-largest producer, gained 1.9 percent to 1,927.29 rubles.


VTB Group (VTBR RX): Russia’s second-largest bank priced its share sale at $6.25 per global depositary receipt, RIA Novosti reported. State-run VTB will officially announce the pricing on Feb. 14.


VTB gained 1.4 percent to 9.47 kopeks in Moscow. Its GDRs were unchanged at $6.27 on the London Stock Exchange.


OAO TNK-BP Holding (TNBP RU): The oil producer’s billionaire shareholders will likely demand at a board meeting that the venture participate in BP Plc’s planned alliance with OAO Rosneft and may force a vote on the issue as early as Feb. 18, when the board is due to meet, the Financial Times reported.


TNK-BP climbed 3.4 percent to $3.03 on the RTS Index.


(source from: Bloomberg)

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