Russia Stocks Decline Most in Week as Metal Prices Retreat

Russian stocks slid the most in a week on Feb 18 after copper prices dropped to a two-week low and other metals retreated.

The Micex Index of 30 stocks decreased 0.8 percent to 1,692.91 by the 6:45 p.m. close in Moscow, erasing an earlier gain of as much as 0.9 percent. OAO GMK Norilsk Nickel, Russia’s largest miner, lost 2.2 percent. VTB Group, the country’s second-biggest lender, declined 1.5 percent.

Copper for May delivery dropped 0.4 percent to $4.4665 a pound on the Comex in New York. Copper inventories monitored by the London Metal Exchange rose yestday to the highest level since Aug. 13. Lead, zinc, tin, nickel and aluminum also decreased on the LME.

Oil, Russia’s main export earner, traded 15 cents higher at $85.14 a barrel on the New York Mercantile Exchange.