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Yesterday Russian stock market took on a sliding path. The negative trends were reinforced after the decrease of EU indices down -0.5-1%, whilst backed by strong oil price and drop of Germany consumer trust index. The publication of US consumer trust index, dropping to the lowest of past 16 years and also a record decrease of housing prices in April – have provoked yet another wave of sales over the stock markets. The negative signals have improved: yesterday’s trades have demonstrated that commodity market cannot provide enough support to Russian stocks. The growth of oil quotes could not stop the sales of oil & gas sector: throughout the day the quotes of Gazprom, LUKOIL, Rosneft were all dropping. Quotes of Sberbank and VTB sloped down following the US banking sector.

At the end of the day RTS rolled back to early May’s values: the decrease of the day formed -1.43%, the indicator have closed at 2308.88 points. LUKOIL (-1.36%), Gazprom (-1.72%) and Sberbank (-1.59%) and proved a negative influence upon the index. The stocks of Open Investments (+10.53%) were moving “against the comb”.

Classic market’s turnover of the day formed 59.9 mn USD. Daily leaders were quotes of Open Investments (12.8 mn USD), Gazprom (9.8 mn USD) and Norilsk Nickel (9.5 mn USD).

Today, after Russia’s trades end – the US Fed are set to gather up and discuss the future of the base rate. Therefore – Russian market players may not form a decent activity before the given event, in order to evade serious movements of the market in case of unexpected decision by Feds. Today we do not exclude some weak positive movement, following the foreign grounds.

Main Stock events

LUKOIL to expand oil refining up 13 mn tons.
June 23rd, Rome, LUKOIL’s president – Vagit Alekperov and the president of Italy’s ERG S.p.A. Allesandro Garrone, have signed an agreement on establishment of a joint enterprise, set to manage ISAB – oil refining complex, located in the city of Priolo (Sicily), says the message of LUKOIL, cites Interfax.

Gazprom: Nord Stream to flow at fall 2011.

The fall of 2011 is a real date to launch Nord Stream, thinks the head of Germany’s gas company – E.ON Ruhrgas – Bernhard Roitesberg.

GAZ reports IAS 2007.
GAZ sales of 2007 rose +34.9% in USD value and formed 5980 mn USD. Operating income of 2007 has formed 485 mn USD, net income totaled 282 mn USD (growth +28.3%).

Other Stock news

Rosneft gets a mini-refinery.
Acron is looking for a sponsor to develop potash deposit.
Power machines gain more power.
Aeroflot considers a temporary replacement for SSJ.
Sheremetyevo is ready for IPO.

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