Rumours about Miller’s Retirement Rise the Price of Gazprom Stocks
Investment news, shares. On Thursday Gazprom stocks have risen by 1.4 percent at Moscow stock exchange due to rumours about retirement of the company’s president Alexei Miller.
On Thursday the price of Gazprom stocks has risen at Moscow stock exchange. This year stock turnover of the gas company was the largest. Alexei Miller’s contract expires only in 2016, but investors are spreading rumours that the top-manager may be obliged to reduce the term of occupying the position as a result of audit data.
“These are mere speculations,” stated Dmitry Peskov, Press Secretary of Russian Prime Minister Vladimir Putin.
According to investors, Leonid Michelson, president of NOVATEK gas company, may become Miller’s successor. On Thursday the company’s stocks have dropped by 0.64 percent at Moscow stock exchange, and by 3.6 percent at London stock exchange.
“Maybe this is somebody’s joke. But if these jokes have had such strong impact on Novatek stocks, it means that some people did believe in this,” said anonymous broker.
According to Alexei Afanasiev, the head of Portfolio Investments Department within , technically, the price has passed sloping channel and is attempting to turn. The stock should be bought at the 170-150 range; target points include 210 and 230. The price will drop if there appear corporate risks or Russian economy generally gets worse.
