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Last Friday Russian exchanges had their trades stopped once again. After a two-day break the securities of Russian issuers have demonstrated an unprecedented growth. Companies’ quotes have rocketed in a range of +5-75%. Even though the trades were stopped twice during the day and total trading time formed 3 hours that day. The demand for equities was provoked by the news background and state’s support of financial markets. However, the light turnovers indicate that the crisis of trust has not yet been overcome and investors are still afraid of entering into the cheapened stocks. The absolute leader of the day was VTB, the stocks of which added +73.91%.

During the last trading session RTS made a never seen before +22.39% hikes and closed at 1295.91 points. The positive influence upon the indicator has been sprayed by Gazprom (+35.48%), LUKOIL (+27.27%) and Sberbank (+41.94%).

The turnover of RTS at Friday has formed 16.4 mn USD. The top turnover leaders of the day were: Gazprom (4.9 mn USD), LUKOIL (2.3 mn USD) and Ural IDGC (1.5 mn USD).

Today we do not exclude a possible further growth. This would be supported by supportive external factors. Primary foreign exchanges have closed up in the green. Almost five USD was added to the price of oil. Note however – the growth could prove negative, due to instability of financial markets.

Main Russian Stock events

Roscommunenergo is ready to purchase WGC-1 under old terms.
Roscommunenergo is ready to buy WGC-1 under old terms and waiting for purchase permission of Russian Ministry of Energy, told Igor Kozhin, the head of company’s directors board to journalists, “Interfax” reported.

Other Russian Stock news

LUKOIL not to suffer extraction losses in 2008.
LUKOIL will keep its oil extraction rate of 2008 at level equal to year 2007, reported oil company’s CEO – Vagit Alekperov, cites Interfax.

Raspadskaya could increase interim dividends about 5 times.
During the meeting held on September 18th Raspadskaya’s board of directors recommended shareholders to confirm interim dividends of 6 RUR per share during the upcoming unscheduled meeting in accordance with 9 months 2008 results, says company’s statement.

Russian Shares Market Report (PDF)

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