MACROECONOMICS.
Oil export duty will be up $13,4 and will reach a record level $199,8 for ton since June, 1st, 2006, according to RIA News.
Now oil export duty, being in force since April, 1st, makes $186,4 for ton. The duty is established once in two months proceeding from monitoring of prices for the Russian oil Urals in the world markets.
According to Sakovich, the average price of oil Urals made $60,974 for barrel in March-April, 2006. Marginal tax rate at the given price makes $199,8967 for ton. Thus, the size of export duty will make $199,8 since June, 1st. The duty for light mineral oil will make $146,9 for ton, for black - $79,2 for ton.
The governmental regulation of the Russian Federation about the new size of oil export duties should be published till May, 20th and will come into effect on June, 1st. The RF governmental regulation about export duties on mineral oil, according to Sakovich, can come into effect at the end of June - the beginning of July.
RUXX index (Russian Industrial Leaders Index) on results of the tenders on Monday did not practically change and made 707,46 points.
The index is calculated since January, 1st, 2006 in US dollars and is available in world trading systems since February, 1st, 2006. Initial value of the index made 500 points.
RUXX is a summary economic index of the Russian companies, whose payment tools (shares, depository tools) are placed at the largest world stock exchanges (New York Stock Exchange, London Stock Exchange, NASDAQ, AMEX). The index is calculated by a principle of weight in accordance with exchange capitalization of the market on the 24-hour working day, which ends at 17.30 of New York time. Values of the index are published daily at 17.55 of New York time in system Dow Jones ITC 2.1 data feed, Chicago Board of Trade (CBOT). Changes of capitalization and stock weight in the index happen quarterly.
Now the index includes the papers of 17 Russian companies, trading abroad and having been listed: the Vimm-BILL-Dann (NYSE), Mechel (NYSE), Tatneft (NYSE, LSE), Gasprom (LSE), LUKOIL (LSE), NOVATECH (LSE), Rambler Media Group (LSE), MTS (NYSE), Rostelecom (LSE, NYSE), Vympelcom (NYSE), AFK System (LSE), Golden Telecom (Nasdaq), Surgutneftegaz (LSE), Norilsk nickel (LSE, Nasdaq), Mosenergo (LSE, NYSE), NOVOLIPETSKIY metallurgical industrial complex (LSE), ROS "EES" (LSE, NYSE).
The inflation rate in Russia for 24 days of April made 0,3 %, the Head of the Department of economic development Herman Gref informed journalists on Friday. He said that on results of April, according to experts’ estimations the inflation rate will make 0,4-0,5 %. Minister has noted that thus indicators of inflation were below than it was a year ago.
MARKET’S GENERAL ASSESSMENT.
On Friday in the Russian market there was observed growth of quotations. Value of RTS index grew up to a level 1657,28 points (+1,92 %); and value of the index of shares of second echelon ???2 - up to a level 1707,49 (+0,21 %). MISE index rose up to a level 1486,85 (+2,47 %). Among liquid papers, traded in Moscow Interbank Stock Exchange, leaders of growth were shares of the Savings Bank (+5,71 %) and Norilsk Nickel (+3,73 %). The volume of the tenders in RTS made $61,8 million, in Exchange $326,5 million. Volume of the tenders in Moscow Interbank Stock Exchange made 41,4 billion rbl.
JOINT-STOCK COMPANY GASPROM.
The level of 12 dollars per a share while remains indeterminable for papers of the joint-stock company. Aggravations in gas sphere between the European Union and huge Russian corporation have put some pressure upon shares.
The commissioner of the European Union on energy sent the letter to the Russian government, in which it is said that the European Union will regard Gasprom as any other energy company. We shall remind that Gasprom would like to take part in purchase of a part of distribution system in Europe.
By aggressive policy GASPROM intends to work up home market by participation in income distribution of transit gas ways of Europe from one side and the EU intention to power safety from the other, is the reason of aggravation of mutual relations. One of experts in economic sphere the Head of the Higher school of economy Yasin is afraid of that relations from economic sphere can move into political one.
With the beginning of this year Russia becomes more and more active player in the raw materials market that happens on a background of growing world demand for them.
The largest world software developer Microsoft gave the third place in the world on market cost to the Russian gas concern "Gasprom".
The reason of this became falling of Microsoft stock quotations on record size for last 6 years after the message that the profit of the company can be below analysts’ forecasts in current and in the future financial year, Bloomberg agency informed. Papers of the company have fallen in price 11 % during the tenders in NYMEX on Friday, and capitalization has fallen to $250,69 billion.
The capitalization of "Gasprom", counted on the basis of the average rate of local shares made $266,27 billion in stock exchange "St.-Petersburg" on Friday, having increased 12 % since the beginnings of week.
Traders have not yet found arguments to bull papers of joint-stock company therefore the previous recommendations hold good.
The purposes of the growth remain - $14 in RTS, protective stop sell-orders should be put at $10, on St. Petersburg the purpose 400 r., stop-order at 280 r.
Gasprom - RTS
Gasprom St. Petersburg
