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Russian stock market morning report by Veles Capital (July 2, 2009, Thursday, 7.30 a.m. GMT)

The new trading month at the Russian market began rather modestly. The market participants did not go for the activities at the market, having preferred moving following the oil quotes, but not winning back any investment ideas, which have not appear lately. No stats on the U.S. came out in course of trades, on the European states the estimates turned out to be within expectations. So, in the morning the quotes dropped following the reduced oil prices, and in the afternoon the share prices began dropping behind, once again after the Brent oil quotes having exceeded 70 USD per barrel level. For the second day in a row investors are interested in the shares of the power energy sector, especially in RusHydro.
 

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AvtoVAZ reported by IAS for 2008.
AvtoVAZ output the consolidated report for 2008. According to them the sales of the company grew by 2.4% to 192.1 bn RUR. At the same time AvtoVAZ closed the 2008 with net loss in the amount of 24.3 bn RUR versus profit a year beforte. Besides, AvtoVAZ gained loss at the operating level in the amount of 25.9 bn RUR. EBITDA of the company was negative and formed 15.1 bn RUR of loss before tax and amortization.

KAMAZ summed up the results of 2008 by IAS.
Sales of KAMAZ for 2008 lost 0.9% to 96.3 bn RUR. Consolidated net profit of the group reduced to 1 bn RUR versus 7.4 bn RUR a year before. Reduction totaled 86.5%. EBIDA of KAMAZ turned out to be at the level of 8.6 bn RUR, which is lower 2007 estimate by 34.1%.