June 22nd, 2009

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In the remainder of the trading session is expected to return MICEX index above 1000 points

Monday, June 22nd, 2009

By 15:06 Moscow time the MICEX index fell by 5% value of 987.5 river. The maximum decline is observed in the electricity sector (-7.33%), minimal drop - in the financial sector (-4.42%).

index of large capitalization fall by 5%, the average market capitalization - is losing 4.7%, a small market capitalization - in the red at 6.2%. International Reserves of Russia for the week decreased to 2.9 billion. to 406.6 billion dollars., ie at 0.7%.

OAO Gazpromneft in the 1 st quarter of 2009 got under IFRS 335mln.doll. net profit that is less than 4.3 times the rate a year ago. In doing so, revenue fell by half to about 4.2 billion dollars.

OAO Surgutneftegaz will receive tax relief on the Republic Law on the Tax Policy of the Sakha Republic (Yakutia). The tax rate will be reduced from 18% to 13.5%.

Rostelecom in 2008 received 12.2 billion under IFRS. net profit, increasing the rate of about 2007 in 4,3 times. Such profit is attributable to the sale of 10,97% stake in Golden Telecom JSC VimpelCom. The Company's revenues amounted to 66.6 billion., Rising by only 3% per year.

The August crude oil futures traded on the NYMEX, falling to 0.1%, trading at 71.63 U.S. $ /barrel. September futures for the SP 500 index, traded on the CME, is reduced by 0.14% and traded at 904doll.

Perekuplennost observed in recent trading sessions, is rapidly melting, and many players are starting to think about shopping. MICEX index, falling below 1000r., Looks much more attractive for shopping, more than a week ago in the region 1120-1140r.

In the remainder of the trading session, expect the return of the MICEX index above 1000r.

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Information provided to the market, no evidence in favor of a new, similar to last year's collapse of quotations of securities

Monday, June 22nd, 2009

Russian shares, included in the calculation of RTS Index today, on average, cheaper at 3.92% and the total since the beginning of this week the importance of this indicator dropped by 11.07% from 1121.87 to 997.68 points. RTS-2 over the past four days has lost relatively few - 4.2% - reaching today, on the basis of current bid 901.43 Fri. However, by the end of the week the pace of his bear the dynamics markedly increased, and on Thursday was 2.57%. The market, therefore, shows the players that the increase in volatility of stock prices is likely to become an integral part of the conditions created by the completion factor for the credit boom (Figure 1).

However, the information coming into the market in recent days, yet no evidence in favor of a new, similar to last year's collapse of quotations of securities. The annual yield of ten-year U.S. trezhiriz was a result of yesterday's auction of 3.7% and is now actually in the middle of trading range 3,5-4% per annum, formed in early June, TG In doing so, these capital inflows U.S. Treasury, published recently, showed a significant increase in investment the world's largest Central Bank in this sector.

The nature of macroeconomic statistics provided to the market in recent times, improved today released the May data of leading indicators and statistics of the U.S. business climate indicator in industry, calculated by FRB Richmond. The World Bank today raised its forecast of GDP growth in the PRC in 2009 from 6.5% to 7.2% year on year, though, however, and noted that the restoration of a stable economy in the medium term is not a guaranteed option for development.

Quotations Japanese currency on the FX in the middle of the week kept the exchange rate stability, but in the last hours rather actively reduced, which may indicate a specific interest of Asian investors to buy risky financial assets from current levels.

Against this background, in the long run these days, taking into account technical factors, it would be logical, perhaps, to expect some recovery of quotations of Russian shares.

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Litvin: Increased funding for the Parliament of Ukraine is necessary for its normal functioning

Monday, June 22nd, 2009

Verkhovna Rada Chairman Volodymyr Lytvyn believes that increased funding of the parliament is due to objective needs.

The speaker described as hysterical statement by the President of Ukraine Viktor Yushchenko to refuse to sign the changes into the state budget-2009, which, inter alia, provide additional funding of the parliament.

It just shows the level of relations, - quotes Litvina press service of the Verkhovna Rada.

Getting document - will make a decision. How to do everything openly and transparently, ... and will happen in the future, - added Litvin.

The speaker explained that the increase in funding the Verkhovna Rada is due to objective needs. According to him, it is necessary, in particular, to settle accounts with the organizations that carry out repair work in the parliament.

I ask that in future conciliation board disclose the information to which I owed, it was guided by the Supreme Rada - not designed for the previous years, - told Litvin.

In addition, the speaker noted, it is necessary to ensure adequate funding for coverage of the parliament, but if people quietly accept that we will not continue to broadcast meetings of the Verkhovna Rada, I have both hands for this. Then I will be fewer appeals and criticism, fair perturbations that occur in-session hall. I will go on Fridays and tell how well served the Verkhovna Rada, and what decisions it adopted, - he said.

Litvin also explained that part of the funds planned to send to pay off debts to international parliamentary institutions, which include the Verkhovna Rada. If we want to be excluded from all international organizations, in which we have not paid contributions, but let's also say about it, or stop their membership, - he said. Click to continue »

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Inside may lose cheap oil

Monday, June 22nd, 2009

structure of the group Privat denied the possibility to buy the oil company Ukrnafta low

Yesterday, the Ministry of Economy held a meeting on the auctions on sale of oil company Ukrnafta. As a result, a working group was established, comprising representatives of government and major oil companies such as TNK-BP and Lukoil-Ukraine . The group should develop proposals for changing the order of bidding.

oil production at its auctions by law on the state budget. This rule applies to the company, which owns a controlling stake in the state. Including the Ukrnafta, which provides about 20% of the total demand of petroleum feedstocks. And that the operational control of the enterprise undertaken by the group Privat Igor Kolomoyskogo.

While open auctions, virtually the entire volume of oil for sale Ukrnafta has traditionally goes to processing at the Kremenchug refinery, which also controls the Inside. Until recently, the Ukrainian oil-tolerated such a situation. But with the recent increases in prices of automotive fuel, they said on the opacity of the auctions held neftedobytchikom.

While all oil companies raised their prices to 6,40-6,50 UAH per liter of gasoline A-95 under the control of the Inside fuel oil carried by 30-40 cents cheaper. Competitors explained that the group had the opportunity to Kolomoyskogo dempingovat because Ukrnafta sells oil their institutions at below-market prices.

Thus, according to analyst Investment Company Troika Dialog Peter Keller, at the auction on 26 May Ukrnafta sold oil at an average price of 21 dollars per barrel, while the Russian Urals brand oil cost 60 dollars (excluding the cost of supplies to Ukraine). Click to continue »

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The glass half empty or still is?

Monday, June 22nd, 2009

USD

At a person uncertain of markets as to what position they occupy: doesthe glass half empty or the economy is? There is no clear opinion on this matter is not formed, as reflected in the depth of oscillatory movements dollar and иже with him. If it were not for the weak economic reports, we would certainly see another surge in appetite for risk after the 10 largest U.S. banks agreed to distribute their debts. This news is quite positive for Obama and his team: a long time, newly elected President criticized the use of taxpayers' money to rescue Wall Street, fearing that the funds will never come back. But there it was: a step was correct, but the debts are given less than a year!

Against the backdrop of all this euphoria Obama announced his program for reforming the country's financial system. The proposal has yet to gain the support of Congress, is the most large-scale revision of the financial system over the past 70 years, including adding a new body to oversee the major agencies. Will set up an agency to monitor the consumer financial products, Fedrezerv have the right to regulate banks, which are too large to prevent their bankruptcy, while hedge funds and equity funds will state. The proposal is clearly controversial and cause a lot of criticism, because too much authority the Fed may give rise to new challenges, is now redundant oversight.

But beyond all of this positive, there were also bad news. Agency Standard and Poor s rating downgraded 22 banks. In addition, we learned that the May consumer price inflation in the United States recorded the maximum annual reduction of almost 60 years (-1.3%). This is significantly below the target level of the Fed 2% The Bank believes that the appropriate definition of price stability and maximum employment. As late as August CPI rate was at around 5% y /y, followed by falling prices for oil and raw materials and the global recession eased the pressure on import prices. Nevertheless, it is expected that already this year, the annual CPI rate will revert to the zone of growth since the last time the energy went up again. less volatile net index CPI in May increased by 1.8% y /g, more in line with the Fed target level. A separate report showed that the deficit on current transactions in the United States early in 2009 fell on a background of recession and reached a 7-year-old minimum. The number of applications for mortgages last week decreased by 15%, calling into question the stabilization in the housing market. So, all said that that the rumors of an early rate hike by the Fed have been greatly exaggerated.

At the moment, given that for the rest of the week are scheduled to key reports, most likely, the markets will rule uncertainty to the trend away from risk. Today we see the release of applications for benefits b /d, the index of leading indicators and an index of business activity from the FRB Philadelphia. Given the recent weakening of activity in regional performance records similar to the dynamics, we can see in today's release. Click to continue »

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RTS was in the top-10 leading world exchanges on trade derivative financial instruments

Monday, June 22nd, 2009

A recent report of one of the world's largest independent organizations derivativnyh exchanges Futures Industry Association in January-February 2009, RTS took 9th place in the thirty the leading platforms for trade futures and options in the world.

In the first two months of this year, the total derivatives trades on the RTS was 41 531 983 contract, which is 15.21% higher than during the same period last year.

In addition, according to a rating, just four contracts RTNs entered in the top-20 in their segments. Thus, the most liquid instrument of Russia's stock market futures on the RTS took 12th place in the top 20 most-traded index derivatives on the assets in the world - 14 463 525 contracts.

Futures Brent oil varieties is at 17th place in the twenty most traded energy derivatives - 975 106 contracts. Click to continue »

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