News & Analysis » Russia
Russian stock market morning report by Veles Capital (July 1, 2009, Wednesday, 7.30 a.m. GMT)
The trades at the Russian share market began rather actively at the Russian share market on Tuesday – following the high oil prices the Russian blue chips climbed also. The most part of the day adding was won back by the market within the first trading hours, after that it varied around the level of 980-985 points of the RTS index. The main reason for that – the oil price upping – the oil quotes exceeded the level of 71 USD per barrel. Despite the fact that slight price slipping was indicated at the oil market, the Russian market held its positions strongly. The demand on behalf of the investors was indicated on a wide range of shares: the oil companies’ shares, telecommunications and metallurgy shares were climbing. Sberbank looked a bit worse than the market.
Main news
Transneft provided a report by IAS for 2008.
Net profit of Transneft for 2008 by IAS grew by 20.4% versus the similar estimate of 2007 (2.35 bn USD) and totaled 2.84 bn USD. The net profit of the company turned out to be 8.5% higher than the market expected.
Other news
- Transneft: FST upped the tariff for oil transporting by 4.4%.
The management of the Federal service on tariffs made a decision on upping the tariff for the services of Transneft on controlling the oil supplies to refineries by 7.5%, at that the average tariff for oil transporting will be 4.4% higher, imparts Interfax.
- TNK-BP Holding conducted shareholders’ meeting.
Wednesday TNK-BP Holding’s annual holders’ meeting took place, where the shareholders approved the distribution of the company’s net profit to dividends in the volume of 100% (82.7 bn RUR), the board of directors has been re-elected, and also the holders approved joining four subsidiaries, which own more than 5% of the company’s shares.
- Power energy tariffs growth in 2010 might be minimal.
Indexation of the regulated tariffs in the power energy in 2010 in RF will be minimal, stated the head of MEDT Elvira Nabiullina.
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