Reports » Russia
Russian stock market daily morning report (February 10, 2010, Wednesday)
By Veles Capital
The Russian share market opened with a gap up due to expectations of the positive dynamics at the global financial grounds, and the hope for possible support to Greece from the European Union, and also climbing at the commodity markets. So the oil price exceeded 70 USD. Plus we should not forget about the common correction after a long fall. However after the rapid high, lateral motion began dominating the market with low turnover volumes, indicates that the investors are cautious. During the day the principal chips were climbing by 0.5-2% average. Among the leaders were the oil shares, industry and bank sector. Note that the industrial sector grew mainly on behalf of Sollers shares basing on the news on the open of the joint enterprise with FIAT concern.
Main news
VimpelCom starts acquisition of Vimpelcom.
VimpelCom Ltd placed an offer to purchase common shares and depositary receipts of Vimpelcom, JSC.
Other news
- NLMC might increase the output at the main ground in Lipetsk in 2010 by 10-14%.
Novolipetskiy Metallurgy company plans to t up the output at the principal ground in Lipetsk in 2010 by 10-14%. So, the company expects that the output volume in 2010 in Lipetsk will form about 9.3-9.6 mn tons of commodity metal goods.
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