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Reports Russia

Russian stock market daily morning report (July 03, 2014, Thursday)

July 3, 2014, Thursday, 09:21 GMT | 04:21 EST | 12:51 IST | 15:21 SGT
Contributed by Veles Capital


As we expected the investors were waiting for some news after a confident growth and on the threshold of the macroeconomic stats release. Trade in the US closed with slight adding on the major exchange indices in turns of low volatility. Exchange market of the Asian Region also shows mixed dynamics, even despite the fact that the posted PMI composite by HSBC in China indicated maximum growth of activity in the state for the recent 15 months.

Main events
 
BoD of Bashneft will consider the matters of changing the listing level and building up the authorized capital stock.

The news indicates that the company is getting prepared to the long-waited SPO at London exchange would be the major driver of the company’s quotes, which would be supportive for the quotes up to the time of the decision itselfþ

RusHydro and the energy-construction company PowerChina agreed on cooperation in construction of small HEPS.

Despite the capacity not being that serious, the cooperation itself with the Chinese company might attract additional attention on behalf of the investors. Moreover, RusHydro might use patents and design arrangements of the Chinese company in order to construct turbines with the capacity below 10 MW, which are not manufactured in Russia.