Reports » Russia

Russian stock market daily morning report (August 24, 2010, Tuesday)

Contributed by Veles Capital

By Veles Capital

The new trading week began rather modestly at the Russian share market. No important corporate news were indicated, no significant stats on Europe or U.S. have been output, so the Russian market referred to oil only. That resulted in the change by the end of the day being insignificant. Nevertheless, shares of car-manufacturing companies are worth being outlined in given passive environment - AvtoVAZ and KAMAZ, which were adding in price for another day in a row.

Main news
 

Oil and gas: Gazprom began actively building up the current extraction of gas.

Gazprom began building up the current gas extraction right after passing the annual extraction low.
 

Mechel might purchase steel smelting assets of Brasil.

Mechel is conducting negotiations on purchasing 3 blast-furnances of Cosipar enterprise in Brasil. The principal holder of Mechel - Igor Zyuzin - might be the buyer in given deal due to the the opportunities of the company buying new assets are limited by covenants of the restructured credit.
 

 
 
News briefly
 

Energy industry: OGK-3 does not succeed in involving to the process of RUSIA Petroleum bankruptcy.

Telecommunications: Fitch upped the rating forecast on 6 IRC.

Bank sector: Sberbank intends to enter the capital of joint enterprise of Deutsche Bank ? Strabag.