Reports » Russia
Russian stock market morning report by Veles Capital (June 19, 2009, Friday, 7.30 a.m. GMT)
On Thursday the selling continued at the Russian share market, despite the light negative background. The oil prices and the foreign market slipped a little. However the reduction was not that significant to cause the 4% drop of the Russian market. There also were additional moments, which looked negatively first of all that relates the possible upping of loan on the gas sector. But that reason is also no enough to justify such serious drop. Possibly the market participants begin to gradually get rid of notes due to expectations of the possible second wave of bank crisis.
Main news
Gazprom Neft provided the expected results for 1Q 2009 by US GAAP.
Gazprom Neft provided its financial results by US GAAP for 1Q 2009. The report states that the net profit of the oil company reduced by 76.3% versus 1Q 2008 and totaled 335 mn USD. Note that in 4Q the company showed loss in the amount of 543 mn USD.
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