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Russian stock market daily morning report (March 19, 2010, Friday)

Contributed by Veles Capital

By Veles Capital

On Thursday the Russian share market was lightly volatile. The trades began with the slight gap down, but during the first minutes the market changed the movement direction and began climbing. In the second half of the trading session the sharfes were mainly slipping down. The oil quotes were the main driving factors. Besides, the stats on the unemployment of the U.S. showed slight restricting affect on the quotes. Among the liquid shares we should outline the shares of Rosneft and Vimpelcom. Shares of Rosneft continued slipping down due to the news on possible problems will accounting for the sold oil as a result of the acts by the courts of the U.S. and the UK. In case of Vimpelcom the quotes reduction of the company’s shares was indicated at NYSE, which might have been related to the possibility of excluding the notes of the operator from MSCI Barra indices.
 

Main news
 

Vimpelcom: perfect year despite the crisis.

Sales of Vimpelcom by US GAAP in 2009 formed 8.7 bn USD versus 10.1 bn USD in 2008. OIBDA dropped from 4.3 bn USD in 2008 to 4.9 bn USD in 2009. The net profit grew by more than 2 times to the level of 1.1 bn USD.

Other news
 

- Comstar summed up the results of 2009 by US GAAP.

Sales of Comstar by US GAAP in 2009 totaled 1.5 bn USD versus 1.6 bn USD showed in 2008. OIBDA reduced from 690 mn USD in 2008 to 593 mn USD in 2009. Within the past year the company gained net loss in the amount of 294 mn USD versus the net profit of 59 mn USD a year before