Aug
18
Last Friday had failed to form a single trend. On one hand – external factors were quite sound. DJ added +0.72% and NASDAQ upped +1.03%, Europe’s indicators had also demonstrated a moderate growth. However, commodities market’s situation was not as sound. Brent oil brand’s prices have dropped to 109 USD during the day, metals market had also demonstrated a negative dynamics. The resulting quotes of commodities companies have dropped as well. The top negative influence on index has been put by stocks of Gazprom and LUKOIL. Banking sector’s quotes were quite opposite to the general market, still backed by external factors. The weakening of limitations set upon Fannie Mae and Freddie Mac mortgage firms have propelled US banks’ quotes upwards, and Russian banks were quick to follow.
Main Russian Stock events
Amtel-Vredestein suffers losses.
The net losses by Amtel-Vresdestein in 2007 under IAS have increased 49 times, up to 243 mn USD, from prior year’s 5 mn of total losses, reports company’s press-release.
Other Russian Stocks news
Norilsk Nickel may partner Rostekhnologii in purchasing Udokan.
Rostekhnologii is discussing an opportunity to attract Norilsk Nickel as a possible partner of its consortium with Metallinvest in developing Udokan copper deposit, announced Sergei Chemezov, the chief manager of Rostkhnologii to the journalists on Friday. According to Chemezov, the partnership will be possible only if Norilsk Nickel’s puts copper assets in joint venture.
MTS filed a report against SMARTS.
On July 15th, MTS and Cezanne B.V., its subsidiary have field a report in Federal Antimonopoly Service, concerning the purchase of rights, defining regulation of SMARTS’ business activity.
Power Machines: a little castling.
A quarter report of the machinery concern indicates that Highstat Limited, headed by Alexei Mordashov, has decreased its share in Power Machines from 55.42% to 30%.
Russian Stock News Report (PDF)