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Russian stock market daily morning report (August 30, 2010, Monday)

Contributed by Veles Capital

By Veles Capital

On Friday the trades at the Russian share market began relatively weakly - the market slipped insignificantly due to impact of the U.S. trades results. However the oil prices that upped overnight kept the market from a more serious drop. The actual anxiety began after the information output on revision of the U.S. GDP forecast for 2Q 2010 - the fact turned out to be better than expected, which leaded to price growth at the markets. The preferred share of Rostelecom added most significantly among the Russian notes - the investors still are inspired by the coming dividends on given shares. Also the price adding was indicated on the metallurgy companies' shares. On contrary, demand got weaker in the shares of AvtoVAZ and Kamaz, which leaded to slipping of quotes.

Main news
 

Public hearings on Rosneft-Krasnodarorgsintez project in Termyuk did not take place.

"Inaudible-overflow land zone deposits' development (third stage of construction) project is being meant. Development of Chumakovskoe and Svistelnikovskoe deposits, expansion of oil development at Ramsarskie sites of wetlands Kuban estuary in Temryukskiy and Slavyanskiy Regions".
 

FNC launches placement of the additional emission on September 3.

FNK begins placement of the additional emission, which will form 2.29% of the existing capital or 14 bn RUR. Notes will be placed via public offer. It is supposed that the state will buy back 11.2 bn RUR of shares, the other part will be available to minority within the frames of the priority buy back.