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Reports Russia

Russian stock market daily morning report (June 16, 2014, Monday)

June 16, 2014, Monday, 09:58 GMT | 05:58 EST | 14:28 IST | 16:58 SGT
Contributed by Veles Capital

Political tension rose within the weekend due to significant escalation of the conflict in Ukraine. Under current conditions, we expect quotes to underperform at Moscow exchange and the export-directed industries’ stocks are to be the top losers

Main events

Gazprom plans making Ukraine pay for gas it gets in advance starting from Monday

Gazprom plans starting delivering gas to Ukraine for payments in advance. According to the statement, Gazprom is to collect 1.95 bn USD in order to cover for its debt not later than 10:00 am MSK on June 16, if not – the relations are to be switch to paying in advance mode.