Reports » Russia

Russian stock market daily morning report (July 28, 2010, Wednesday)

Contributed by Veles Capital

By Veles Capital

On Tuesday the trading session once again was calm at the Russian share market. No important stats on the European Union and the U.S. came out, which provided for the low volatile trades at given regions' markets. So, there were no indicators for the Russian grounds to follow. We should point out the shares of Rostelecom among the liquids due to they went 6% up, along with some representatives of the metallurgy sector (Severstal and MMC). On contrary, reduction was indicated on the shares of Mechel, which were the favorites recently.
 

Main news

Severstal upped the share in Crew Gold gold-mining company.

Severstal upped the share in Canadian gold-mining company Crew Gold from 40.4% to 50.2%, the shares of which are trading at the market in Toronto and Oslo. The shares were purchased by the price of 0.35 Canadian dollars, which is 29% higher than the market quotes.

Merger of Polyus Gold and Kazakhgold has been approved.

Shareholders of Kazakhgold gold-mining company supported the planned merger of the companies Kazakhgold and Polyus Gold. An additional emission of shares, amendments to the company's regulation documents and the change of the company's name Kazakhgold into Polyus Gold International.