Investors ready wallets for Russia’s Norilsk Nickel
“If anyone in Russia can print at the moment, it’s Norilsk Nickel,” said a London-based investor due to meet with the company next week. “Possibly everyone is underweight Russia, and Norilsk has been one of the main beneficiaries of the events in the country.”
Operating profit at the company stood at US$2.4bn for the first six months of this year, up by US$400m year-on-year and US$600m more than the same period of 2013, according to its financial statements. This is despite nickel prices falling 35% this year, according to Thomson Reuters Eikon data.