Mosenergo Rises on Ouster

Shares of Mosenergo jumped for a second day, advancing to a five-month high Thursday on speculation that the ousting of Mayor Yury Luzhkov will boost the power utility’s market share in the capital.

The stock closed up 5.9 percent at 3.53 rubles, its strongest since April 29. The shares added 4.3 percent Wednesday. Luzhkov’s departure deprives rival Moscow Integrated Power of its “staunchest ally,” said Alexander Kornilov, a senior analyst at Alfa Bank. “It’s very positive for Mosenergo,” he said.

(Bloomberg)


Read more