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Russian stock market daily morning report (September 19, 2012, Wednesday)

Contributed by Veles Capital

This morning the foreign background is positive to the trade open at the Russian market. Against the background of the decision of the Bank of Japan on increase of the buyback volume of the assets, buyers prevailed at the Asian session. Futures for the American indices and oil are in the green zone. Results of SPO of Sberbank’s shares might also return a share of buyers to the Russian market. We still have a positive look over the prospects of the exchange market till the end of the year.

Main events

Ministry of Finance prepared amendments to Tax Code, which sets the formula of accounting MET for gas extraction.

Ministry of Finance prepared amendments to Tax Code, which sets the formula of accounting MET for gas extraction.

FAS allowed Mosenergo to buy 51% of company, which finances the investment project of OGK-2.

According to Interfax, FAS allowed Mosenergo to buy 51% of the company that finances the investment project of OGK-2. In order to gain 51%, the generation company will bring 551.64 mn RUR in the authorized capital stock of OGK-Investproekt.