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Russian stock market daily morning report (February 08, 2010, Monday)

Contributed by Veles Capital

By Veles Capital

On Friday the Russian share market rolled back to the level of the end of the previous year. The main reasons for the run from the financial markets are the worsening problems in European Union. Against the given background dollar rate is rapidly climbing versus the global currencies and the prices of commodities are dropping, including the oil prices, which is trading lower than 72 USD. First of all suffered the oil-and-gas and metallurgy plants shares – branch indices dropped 3.6% and 4.2% respectively. Also banks lost a lot – 3.3%. Positive stats on unemployment level in the U.S. came out in the afternoon, which helped slightly compensate the morning drop of the RTS index, however, by the day results the market still remained within the negative zone.
 

Main news
 
Investor’s day in Gazprom – the event and 2010 prospects.

On Thursday Gazprom held out a wide meeting investment society. In course of the investor’s day the representatives of the concern’s management estimated operating and financial results of company’s operating in 2009 and provided forecasts for 2010.
 

Other news
 
- Gazprom: Shtokman is delayed.

Partners on executing the first phase of exploring giant Shtokman gas-condensate deposit – Gazprom, Total and Statoil – decided to delay the time constraints of the beginning the execution of the project for three years and gave themselves another year to make the final investment decision, imparted Interfax.
 

- NOVATEK will up the extraction in 2010 by 13%.

In 2010 NOVATEK plans to extract 37 bn cubic meters of gas, announced a source in gas branch to the agency of gas information, imparted Interfax.