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Oil prices became the main factor, influencing on Russian stock market on Friday. Previously, a growth of Brent oil formed +6.54%. On the base of this, the trades have started with quotes growth of oil & gas sector. However, during the afternoon, the quotes have changed direction. It occurred due to decreasing oil prices and several external factors. Among them are: Gazprom’s decision to expand its investment plan. After that Gazprom’s stocks have decreased by 5.83%. Tatneft has published its 1Q 2008 report (lower than the expectations), caused a fall of company’s shares at MICEX and a positive influence on RTS code was not achieved. In banking sector: announced information, concerning a possible sale of Lehman Brothers to Korean Bank, belonged to the government. These news has a positive effect on Sberbank’s (+0.78) and VTB’s securities. In metallurgy sector, Norilsk Nickel’s stocks have decreased, according to Deutsche Bank’s estimation, by -23%.

During the day, RTS has decreased by -1.21%. The securities of Gazprom (-5.83%), LUKOIL (-1.86%) and Norilsk Nickel (-1.71%) caused a negative effect on RTS. However, the code was boosted by the stocks of Sberbank (+0.78%), VTB (+2%) and Magnitogorsk Iron & Steel Works (+0.2%).

Classic market’s turnover of RTS has formed 35.8 mn USD. The securities of Gazprom (9.9 mn USD), Sberbank (6.0 mn USD) and Norilsk Nickel (5.9 mn USD) have achieved the highest turnovers.

We think that during the week, Russia stock market will keep moving in the same direction. RTS code can be boosted by foreign markets. However, there are some risks: let us remind you that oil prices decreased by 6 USD on Friday and another negative factor is unstable situation between Russia and USA.

Main Russian Stock events

Norilsk Nickel to conduct buyback of 49 bn RUR.
On Friday, Norilsk Nickel’s board of directors confirmed a decision, concerning a buyback, forming 4.17% or 49 bn RUR out of registered capital, indicates company’s statement. Norilsk Nickel plans, concerning own shares purchasing was confirmed, in order to support the shares, the price of which has significantly deceased during several months, announced Vladimir Strazhalkovsky, the chief manager of the company
Tatneft’s surprising 1Q 2008 results.
According to US GAAP 1Q 2008 report, Tatneft’s net income formed 6.335 bn RUR, says company’s statement. It occurred to be lower market expectations by 42.3%. Let us remind you that players considered it of 10.985 bn USD, whereas our forecasts formed 10.557 bn RUR.

Other Stock news

Severstal plans to purchase PBS Coals for 1.3 bn USD.
Kirov Works published its consolidated 2007 results.
Silvinit: production results for 9 months.

Full Russian Stock Report (PDF)

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