Norilsk Makes No Offer to Buyback Rusal

Bloomberg reported Russian’s Norilsk Nickel (RX:GMKN,LSE:MNOD) rose for the first time in three days after it announced it will not offer to buyback Rusal (RX:RUALR).

As quoted in the market news:

Norilsk’s shares rose as much as 0.6 percent, trading up 0.3 percent at 5,482 rubles as of 11:46 p.m. in Moscow and extending their gain this week to 2.6 percent. The benchmark 30- stock Micex Index was down 0.2 percent. Rusal’s Russian depositary receipts climbed 0.4 percent to 224.01 rubles.

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