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Russian stock market daily morning report (March 05, 2010, Friday)

Contributed by Veles Capital

By Veles Capital

On Thursday the trades at the Russian market began with weak correction movement, indicated within the first hour. Such weak opening was likely related to winning back a foreign factor, in particular – the initiatives on regulating the bank sector. However, the market turned around fast and following that the oil quotes went up. Besides, the stats on macroeconomy of the U.S., which has been output closer to the trades close, provided support to the market. Along with that we should outline that there were no special ideas at the market – the shares were moving following the foreign background.
 

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TNK-BP reduced selling oil products by 3.1% and upped the selling of oil by 5.4% in 2009.

TNK-BP reduced selling oil products by 3.1% versus 2008 to 32.573 mn tons, imparts the message of the company.

Export of oil products to the far abroad reduced in 2009 versus the previous year by 1% to 17.885 mn tons, export to CIS states grew by 14.5% to 3.783 mn tons, and supplies to the domestic market reduced by 11% to 10.905 mn tons. Earlier TNK-BP explained the reduction of estimates on oil products selling was due to reduction of demand in1H 2009 because of the negative effect of crisis. Selling oil by the company on 2009 grew by 4.5% to 47.718 mn tons. At the same time the export of oil to the far abroad grew by 8.9%  to 35.896 mn tons, export to CIS states reduced by 22% to 4.009 mn tons, supplies to the domestic market grew by 3.5% to 7.813 mn tons.