MICEX and RTS Retreat

The MICEX Index fell for the first time in three days, dropping 2.7 percent to 1,632.37 as all but five of the 30 stocks retreated. The dollar-denominated RTS Index declined 2.3 percent to 1,966.73.

The following were among the most active stocks in the Russian market Tuesday.

Unified Energy System rose 1.5 percent to 26.91 rubles on the MICEX exchange, gaining for a third day. The company said power production in January rose 9.1 percent to 72.8 billion kilowatt-hours compared with January 2007, even with warmer-than-average temperatures.

Separately, UES said it does not plan to sell its treasury shares on the open market during its reorganization this year, Interfax reported, citing a person familiar with the plans. "This will limit the additional supply of UES stock on the market and should support the company share price in the short term," Matvei Taits, an analyst at UralSib, said in a note to investors.

OGK-3 climbed for a fourth day, rising 1.5 percent to 3.28 rubles. Troika Dialog said Norilsk Nickel, the country's biggest mining company, might attempt to sell its 65 percent stake in the electricity generation company at "no less than" 4.54 rubles per share. RWE AG, Fortum Oyj, Electricite de France and billionaire Oleg Deripaska's Basic Element are interested in acquiring Russian electricity assets, the bank said.

Sberbank sank 4.1 percent to 87.14 rubles, its lowest level in a year. Deutsche Bank cut its price estimate for the bank by 2 percent to $5 (123 rubles), saying new reserve requirements from the Central Bank would hurt Sberbank's earnings outlook.