OAO Gazprom slipped 0.4 percent and OAO Sberbank, the nation's biggest lender, dropped 1.2 percent. OAO Severstal climbed 1 percent after JPMorgan Chase & Co. raised the stock to overweight. The ruble weakened 0.7 percent to 41.0470 per dollar.
Today, July 21st Monday; Steel Dynamics announced that it is in an agreement to buy all of Severstal Columbus LLC from OAO Severstal. Columbus is located in northeastern Mississippi and is one of the most advanced mini-mills in North America.