Early this week, the exchange grounds and commodity indices might continue slipping down on the threshold of the Fed session on Wednesday. Prospect of the rates upping will support dollar and pressure the commodity quotes. The session of CBR Friday promises to be an important event for the Russian market.
Main events
The BoD of Bashneft will decide the future for the stock registered for SPO.
At the session on July 29, the BoD of Bashneft will decide in the status of an additional issue of common shares of the company. Bashneft prepared an addition al issue within the frames of the potential SPO last year. A year term expires on September 5. A decision to prolong the registration term for one year more or cancellation of the issue is to be made in course of the session. We assume that from the viewpoint of the company’s stock dynamics, prolongation of the registration term and execution of SPO in the future as the market conjuncture improves would have been the best solution allowing to turning the shares of Bashneft into a more attractive investment object.
Contributed by Veles Capital
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