MACROECONOMICS.
This year Russia plans to pay back to the Parisian club, Vladimir Putin has declared, according to the RIA News.
At the Russian-German economic forum Putin has declared that this year it is planned to pay back to the Parisian club completely. Russia hopes that Germany together with other countries can take advantage of this offer (to pay off debts ahead of schedule).
In 2005 Russia paid off $15 billion debts of the former USSR ahead of schedule to the Parisian club of creditors. In February at a meeting with participants of meeting of financial "eight" Putin confirmed readiness of Russia to pay $11,9 billion to the Parisian club ahead of schedule.
It is practically all debt of the former USSR to the Parisian club, except for Germany, which in 2004 for its part of a debt within the limits of club bonded in volume about $6 billion with three, five and ten years circulation, which cannot be paid off before the end of their circulation.
MARKET ‘S GENERAL ASSESSMENT
Owing to hike of stock quotations of the Saving Bank and Gasprom RTS index has finished day at a level of a new historical maximum - 1669,24 points, having hiked 2,56 % for day. At sharply grown turnovers MISE index rose in price 3,16 % - up to 1500,65 points.
The absurd agiotage during all trading session was observed around Gasprom and the Saving Bank shares, demand on which exceeded twice more the current offer of papers. The catalyst of growth of shares of the gas concern became the information that the Gasprom weight in MSCI Emerging Markets index, which affect a part of foreign institutional investors at portfolios’ formation, will be increased from 0,38 % up to 2,45 %. Despite that this news has been expected by the market, at activization of foreign buyers Gasprom quotations hiked 8,53 % in Moscow Interbank Stock Exchange (+8,56 % in RTS).
Shares of the Savings Bank rose in price 10,66 % in Moscow Interbank Stock Exchange (+9,49 % in RTS). An occasion for rally on Savings Bank papers became the company’s reporting for 2005, issued on the eve, and also affinity of date of closing of the shareholders’ register, planned for April, 28th. LUKOIL quotations have grown 0,79 % for a day (+0,75 % in RTS), Surgutneftegaz - 1,89 %, ROS "EES" - 1,35 % (+0,59 % in RTS), Rostelecom - 0,94 %, “Norilsk Nickel ” - 1,09 % (-0,70 % in RTS). Outsiders of day were shares of Sibneft, decreased 1,19 % in Moscow Interbank Stock Exchange (-7,09 % in RTS), and Tatneft, fallen in price 0,17 % (-2,72 % in RTS). Turnovers of the RTS tenders made $1240,48 million, in MISE - $3348,29 million.
RTS index has grown despite drop in oil shares, which were under pressure because of correction in oil market of. Oil prices of the nearest month of delivery dipped in ICE and NYMEX on results of the tenders on April, 26th, 2006. In InterContinental Exchange Futures in London the price of futures of Brent oil with delivery in June made $72,09 (-$1,12) for barrel. In New York Mercantile Exchange in New York the price of Light Sweet Crude oil with delivery in June made $71,93 (-$0,95) for barrel.
GASPROM.
Morgan Stanley Capital Inter-national (MSCI) has declared how much it is going to increase weight of Gasprom shares in its indexes. News was so unexpected that Gasprom quotations hiked in all exchange platforms, in particular in RTS its papers were closed with increase 9 % from $10 up to $11,12.
"Gasprom" has surpassed British BP on capitalization. Now it is among the four of the most expensive companies in the world. "Gasprom" - the world's largest gas company. In 2005 the company mined about 548 billion cubic m. of gas and 12 million tons of oil. The net profit for nine months of the last year exceeded 232 billion rbl., the proceeds - 902 billion rbl. The state owns 50 % + 1 share of "Gasprom". Indexes MSCI Emerging Markets (EM) and MSCI Russia, calculated by Morgan Stanley Capital International, is as a reference point for many international investors, putting money into shares of the companies of developing countries and Russia.
"Gasprom" increases its expansion outside Russia. And Russian state monopolist is the most successfully in German market. German chemical concern BASF will receive 35% of profit on participation in the West-Siberian gas deposit development - South-Russian, that is more than it was supposed earlier.
The contract will be signed by BASF Wintershall branch and the Russian gas monopolist "Gasprom" on Thursday in Tomsk within the limits of the Russian-German consultations, the newspaper of business circles of Germany Handelsblatt, referring to the Russian political sources, informed on Monday. In response "Gasprom" strengthens the expansion outside Russia: raises from 35% up to 49% of its shares in Wingas - joint venture with German concern Wintershall - delivering gas to the Western Europe. "Gasprom" receives from Wintershall assets on oil and gas production in Libya.
After yesterday's news contrary to general dynamics of the market the shares showed hike. Shares from local levels 270 in St. Petersburg stock exchange and 9,8 in RTS should be kept. In RTS the price of a paper has grown 2 % for a day.
The purpose 12 in RTS as well as it was predicted in our forecast, almost tested a level $12 in RTS. Today it is possible to determine the following purposes of growth, so now papers of joint-stock company have quite good prospects. Protective stop sell orders should be put at $10, purpose - at $14. The same in St. Petersburg the purpose - 400 rubles, stop the order at 280 rubles.
