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Reports Russia

Russian stock market daily morning report (June 30, 2014, Monday)

June 30, 2014, Monday, 09:13 GMT | 04:13 EST | 13:43 IST | 16:13 SGT
Contributed by Veles Capital


Friday the western grounds closed with light adding. Asian exchange grounds are climbing a bit this morning. Generally, the foreign background early this week is mildly negative. We expect that Monday will be mainly mixed while waiting for the end of the ceasefire term at the East of Ukraine and the reaction of the West.


Main events

Mr.Sechin announced the long-term production plans of Rosneft in course of the annual stockholders’ meeting.

By the year 2020, Rosneft plans building up extraction of hydrocarbons by more than 30% to 6.4 mn bbl o.e. Generally, the planned numbers of growth are no news for the market and are in line with the projections, announced earlier. The news is unlikely to become a serious reason for the name’s quotes to climb.

TMK will conduct an additional emission.

TMK will place 56 mn shares (6% of the authorized capital stock) for public subscription. Board of directors of TMK has approved the decision to conduct an additional emission of stock. The company will place 56 mn shares (6% of the authorized capital stock) for public subscription. Placement might start in early July-August. Most likely, the stocks buyer is already familiar to the company, meaning the stock would not be placed to the market.