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Russian stock market daily morning report (March 12, 2010, Friday)

Contributed by Veles Capital

By Veles Capital

On Thursday the trades at the Russian share market went without any trends and the indices varied little, however still standing higher than the psychologically important level of 1,500 points of the RTS index. Mainly that was due to the relatively calm foreign background – Europe and U.S. did not show any kind of serious variations at the markets, commodity grounds were trading calmly also. News from Russia was not aggressive either and there were no trade ideas. No serious price highs or downs were indicated at the most liquid shares’ costs. Along with that we might outline the shares of Uralkaliy, which upped in price due to the statements by Igor Sechin on the matter of export duty for the potassium fertilizers not being discussed in the government yet.

Main news
 

Surgutneftegas built up the volume of its investment program in 2009 by 9.2%.

Capital investments of Surgutneftegas in 2010 will form 118 bn RUR, imparted to the journalists CEO of the company Vladimir Bogdanov, announced Interfax. Growth versus 2009 investment program forms 9.2%.
 

Authorities negotiated features of long-term market of power.

Profile authorities reached an agreement on the principal price features of the long-term market of power, announced several sources within the branch to Interfax. In particular, the price cap has been negotiated on the proposal of MEDT – on the first price zone (European part of RF and Urals) the price cap will form 110 thousand/MW per month, and on the second zone (Siberia) – 120 thousand/MW per month for all types of heat energy.
 

Other news
 

- From April 1 export duties will add 6.1%.

Export duty for the oil export from Russia from April 1 2010 might up by 6.1% versus March duty and might form 268-269 USD per ton, that follows from the calculations based on monitoring oil prices from February 15 to March 10 2010, provided by the ministry of finance of RF to Interfax. Note, from March 1 the oil export duty forms 253.6 USD per ton.