The 30-stock Micex Index (INDEXCF) lost 2.6 percent to 1,579.38 by 1:54 p.m. in Moscow, taking its drop this week to 7.4 percent, the biggest since the five days through May 7, 2010. The dollar-denominated RTS Index slumped 3.5 percent to 1,790.85.
The following were among the most active stocks in the Russian market today. Stock symbols are in parenthesis.
OAO GMK Norilsk Nickel (GMKN RX), Russia’s biggest mining company, dropped for a fourth day to its lowest in more than a month, falling 2.1 percent to 6,989 rubles as metals declined on concern that the global economy is slowing.
OAO Polymetal (PMTL RX), a Russian silver producer, plunged the most in more than 2 1/2 years as the metal dropped in London. The company’s shares sank as much as 14 percent, the biggest intraday retreat since December 2008, and last traded 4.5 percent lower at 510.2 rubles.
OAO Rosneft (ROSN RX), Russia’s largest oil producer, fell to the weakest since December, declining 2.8 percent to 218.6 rubles after oil plunged in New York on speculation fuel demand will falter as the global economic recovery stalls.
To contact the reporter on this story: Jason Corcoran at Jcorcoran13@bloomberg.net
To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net
