Norilsk Inclines As Ruble Declines

Jun. 04, 2012 09:15AM PST

Bloomberg reported Russia’s nickel and palladium miner, Norilsk Nickel (LSE:MNOD) stocks rose on news it will benefit from a lower ruble.

As quoted in the market news:

Norilsk rose 1.9 percent to 4,920 rubles by the close in Moscow, the biggest advance since May 29. The Russian currency weakened as much as 1.4 percent against the dollar today before rebounding and rising 0.7 percent to 33.451 per dollar, the first gain since May 22.

Click here to read the full Bloomberg report.