Mar
11
Daily Shares review - March 11, 2009
Filed Under Trader’s view |
Russian share market began the week after holidays with rapid growth. That was supported by a number of positive moments, mainly by the positive at the commodity market: during the day the oil prices added 1.5 USD. Besides, the corporate news became driver for quotes’ growth of Uralkaliy’s and VTB’s shares. The shares of VTB have been climbing since the last week, when the information on bank’s intention to place an additional issue with premium to the market came out. Besides, significant support was provided to the bank sector from the abroad, where Citigroup announced profit in January-February of the current year. The shares of Uralkaliy reacted with growth to the message of the company to compensate damage from Berezniki accident consequences. That interntion indirectly indicates that the company obtains enough cash, and in its way minimizes the possibility of claims to the company on behalf of the state authorities. Due to that Uralkaliy climbed by almost 40%.
Main Shares news
Vimpelkom was granted with a debt respite.
Vimpelkom signed an agreement with Sberbank on obtaining two credit lines for the amount of 8 bn RUR and 250 mn USD. Time constraints for credit payoff – December 2011 on ruble line and December 2012 on the dollar line. Maximum interest rates will form 19% annually on the ruble line and 13% annually on the dollar line. The message of the company contained such information.
Other Shares news
Ø Oil export duties might reduce starting from April 1, 2009.
Most likely the export duty on oil in Russia will be reduced starting from April 1 to 108-112 USD per ton, imparted deputy head of custom duties department of RF’s Ministry of Finance Alexander Sakovich to Interfax. Note that starting from March 1 the export duty totals 115.3 USD per ton.
Ø Rosneft disclosed the volume of its 2009 capital investments.
Rosneft’s 2009 capital investments are expected to be at 2008 level in ruble equivalent, imparted vice-president of the company Peter O’Brian in course of telephone conference for the investors, announced Interfax.
Ø WGC-6 output its 2008 RAS report.
WGC-6’ 2008 sales by RAS upped by 16.5% versus 2007 and totaled 1,654.6 mn USD. Sales increase was due to energy generation increase by 14%, its tariffs growth at both free and regulated markets, and also the double upping of sales from selling power energy at the free market.
Daily Shares review - March 11, 2009 (PDF)