MOSCOW, April 30 (Reuters) - Shares in Russian oil company Surgutneftegaz underperformed a generally slightly easier Russian stock market on Tuesday on concerns over the company's transparency.
Surgutneftegaz, which reported its results to International Financial Reporting Standards for the first time in more than 10 years, saw its ordinary shares shedding 2 percent at 0730 GMT, while its preferred shares were down 2.9 percent.
Surgut's shares initially rose after the company reported a $29 billion cash pile, but fell back as analysts expressed continuing concerns about the transparency of its ownership structure.
Russia's overall stock market indexes edged down, a day before several days of May holidays. The stock market will be closed tomorrow but open on Thursday and Friday, though trading is likely to be light.
The rouble-denominated MICEX index was down 0.1 percent at 1361.5 points, while the dollar-based RTS index shed 0.5 percent to 1380.9 points.
Shares in Russian gas concern Gazprom were flat after the company published full year 2012 results that were in line with analysts' forecasts.
The rouble was weaker, falling back from a two-and-a-half-week peak after the end of the monthly tax season, and with investors cutting risky rouble positions ahead of the long holiday period.
At 0730 GMT the rouble was down 0.4 percent at 31.06 against the dollar, and 0.3 percent at 40.61 against the euro, leaving the Russian currency 0.4 percent weaker at 35.36 against the euro-dollar currency basket .
(Reporting by Jason Bush/editing by Chris Pizzey, London MPG Desk, +44 (0)207 542-4441) Keywords: SF RUSSIA MARKETS/
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