MACROECONOMICS.

Commodity circulation between the Russian Federation and Chinese People's Republic on results of 2006 can reach $32-34 billion, the ambassador of the Russian Federation in Chinese People's Republic Sergey Razov declared at press conference in press-office of the State Council of Chinese People's Republic on Wednesday. (according to materials of RIA NOVOSTI).

"According to our preliminary expert estimation the Russian-Chinese commodity circulation can make $32-34 billion", - the ambassador said. Sergey Razov has especially emphasized that growth of this parameter is "the objective tendency connected with economic interests of two countries".

Simultaneously the ambassador of the Russian Federation told that current Year of Russia in China creates a favorable political climate for successful cooperation between business communities of two countries.

"When at the supreme political level there are sounded clear signals concerning deepening of cooperation businessmen work more successfully and cheerfully", - Sergey Razov told.

The ambassador noticed that subject total bilateral trade and economic interaction will be brought during the 11-th regular meeting of heads of the governments of the Russian Federation and Chinese People's Republic on November, 9-10th, 2006.

Russia is ready to conclude the new Contract about strategic partnership with EU, including clauses of delivery of liquid and gaseous hydrocarbons, instead expiring this year the Contract about Cooperation. Thus in the new contract the Russian side is ready to consider problems on energy supply arisen in the end of the last and the beginning of this year, and also to settle the majority of contradictions of the parties, arising at it.

Thus Russia insists on that its position of energy donor is not convenient any more. "Except for energy we have high technologies, aircraft, space, biology and so on, - V.Putin noticed. - We cannot include all branch questions in the document essentially regulating the relations between the European Union and Russia". Thus he hoped "that we together with Europe we shall agree on everything, even very difficult questions".

MARKET’S GENERAL ESTIMATION.

On Wednesday investors’ activity was low. The total amount of RTS tenders made 429,8 bln. dollars, in the classical share market - 22,6 bln. dollars, in the exchange share market - 36,5 bln. dollars. The volume of the share market of MICEX was 2159,2 bln. dollars. The Russian stock market connected with oil quotations, showed growth, an occasion for which became rise of the oil price more than $1 after publication of data about reduction of stocks of raw material in the USA by 3,21 million barrels (up to 332,3 million). On this background the leaders of growth were oil papers: Lukoil, Surgutneftegaz, Rosneft. There were not significant home news. "The hot line" with the President of Russia was not surprise and remained ignored by investors.

On Wednesday Sberbank papers were in demand on a background of talks about possible converting of preference shares of the bank in common stock. On results of the last day RTS index was up 1,34 % (+21,62 points) to 1630,46 points, MICEX index rose 1,37 % (+19,63 points) up to 1449,1 points. Investors still have a waiting position, preferring not to make active actions, expecting FRS decision about the rate.

However already today the situation in share market can change for the better, yesterday on NYMEX growth of oil quotations to monthly tops was noted, the tenders on New York stock exchange were closed with increase of oil futures, at a mark above $60 a barrel.

GAZPROM.

Gazprom shares have come nearer a mark 11 on RTS, recommendations remain former we continue to hold positions.

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Gazprom on RTS