May
19
The beginning of the week at the Russian exchange markets indicated high volatility under the conditions of high activity of the players. Since morning the external background was negative. By afternoon the RTS index dropped lower than 920 points. However, together with the resumed oil price growth and climbing at the European grounds the shares of Russian companies went high also, the oil companies mostly. Demand was for the shares of LUKOIL, Gazprom and Rosneft. On contrary the common and preferred shares of Surgutneftegas were for sale after holders’ register close last week. The activity was indicated in the notes within the bank sector, particularly in Sberbank. By the end of the day the shares of the bank got expensive by 4%, and VTB added 6%.
Main Stock news
Gazprom corrects dividends for 2008 towards reduction.
The board of Gazprom’s directors recommended the annual meeting to payoff dividends for 2008 in the amount of 0.37 RUR per share. That is 3.5 times less than the management offered (1.28 RUR) and 7 times lower than the dividends for 2007 (2.66 RUR).
WGC-1 reported by IAS for 2008.
Consolidated sales of WGC-1 for 2008 by IAS totaled 2,006 mn USD, having upped versus 2007 by 14%.
Other Stock news
Ø LUKOIL provided operating estimates for 1Q 2009.
Oil extraction by LUKOIL in 1Q 2009 grew by 2% to 24.13 mn tons, imparts the message of the company.
Ø Seversk pipe plant in 1Q 2009 reduced sales by 18.7%.
Seversk pipe plant, included in the Pipe metallurgy company (TMC), in 1Q 2009 gained 4,060.203 mn RUR of sales, which is 18.7% less than within the similar period of the previous year.
Ø MTS keeps the debts on ice.
Mobile Telesystems, JSC announces signing the credit agreement with a consortium of banks in order to refinance a share of debt liabilities on the syndicated credit in the amount of 1.33 bn USD.
Daily Russian Stock News review - May 19, 2009 (PDF)