Translated material
Sberbank spent several hours as the most valuable company in Russia instead of Rosneft
On November 28, Sberbank overtook Rosneft in terms of capitalization for several hours, becoming the most valuable company in Russia. The Vedomosti newspaper writes about this.
At 14:10 Moscow time, Rosneft shares fell by 2 percent during trading on the Moscow Exchange, and the company’s capitalization dropped to 3.548 trillion rubles. Sberbank's capitalization, on the contrary, by this time exceeded 3.557 trillion rubles.
By 18:30, Rosneft’s capitalization increased to 3.567 trillion rubles, and the company again became the most valuable.
According to the newspaper, Sberbank became the most valuable company in Russia for the first time. At the same time, the bank has already overtaken Rosneft in capitalization - this happened, for example, in 2010 , when Gazprom was the most valuable company in Russia.
“In my opinion, this is a long-term trend and sooner or later the capitalization of Sberbank will consolidate above the capitalization of Rosneft. The question is the strategy and perception of the companies: “Rosneft is the past, and Sberbank is the future,” says BCS trader Maxim Ryabov.
- Rosneft overtook Gazprom in capitalization in April 2016 and became the most valuable company in the Russian Federation. In August, Sberbank took second place in terms of capitalization, Gazprom dropped to third.