MACROECONOMICS.

Vneshecomombank and the State bank of development of China (SBDC) are going to sign credit agreements for the sum of $500 million, Vneshecomombank  ?hairman Vladimir Dmitriev informed journalists on Thursday. (according to materials of RIA NOVOSTI)

The document is to be signed within the limits of the official visit to the Chinese Peoples Republic by the prime minister of the Russian Federation Michael Fradkov, which began on Thursday. From the Russian party Vladimir Dmitriev will sign the document, from Chinese - SBDC  President Chen Yuan.

According to the document, SBDC will open for Vneshecomombank the demand line of credit with a limit of $500 million.

Means will be directed for financing of bilateral and multilateral projects in export-focused branches of the Russian economy, including sphere of mechanical engineering and aircraft construction, and also the projects realized at participation of administrations of regions of Russia.

Within the limits of this agreement and development of before concluded agreement between the Vneshecomombank, SBDC  and the government of the Chechen Republic the parties have agreed also about financing of the project on installation and maintenance of a refrigerating machinery which will be delivered to the Chechen Republic.

MARKET’S GENERAL ESTIMATION.

On Wednesday the Russian stock market was adjusted downwards owing to negative dynamics of oil prices and world stock indexes. MICEX index was down 0,24 % and made 1477,37 points. RTS index decreased 0,70 % and was at a level 1663,19 points. By the evening there was a statistics on oil stocks in the USA for a week: according to EIA, oil stocks in the country were up 400 thousand barrels to 334,7 million barrels, petroleum - decreased 600 thousand barrels to 204,0 million barrels. As a result papers of the companies of oil sector showed following results on MICEX: Tatneft (1,04 %), Gazprom (-1,04 %), Surgutneftegaz (-0,43 %), Gazpromneft(-0,27 %), LUKOIL(0,09 %), Rosneft (+0,13 %).

Rostelecom shares rose in price 1,63 %, to a certain extent reacting on news about growth of net profit of Golden Telecom in III quarter by32 % up to $24,2 million, 11 % of which shares belong to Rostelecom. On MICEX there was growth of quotations of shares of Verkhnesaldinsky MPO (+6,33 %): on Tuesday at assembly of the directors’ board, four of seven places in which belong to representatives of the new shareholder,"Rosoboronexport", long-term plans of the further development of the company, including attraction of additional suppliers of raw material and possible carrying out of IPO, were sounded.

One of leaders of falling on MICEX was Severstal shares (-6,51 %). Alexey Mordashov's company managed to lead IPO, however the great demand for shares there was not, and the price of placement was in the middle of the declared price range $11-$ 13,5, that is approximately at a level $12,5 for a share. The volume of the involved means made nearby $1,2 billion whereas it was expected that this sum can be 1,5-2 times as much. Other "blue chips" on MICEX finished day as follows: SBER (+0,24 %), Norilsk Nickel (+0,08 %), EESR (-0,23 %). The volume of the tenders on MICEX grew and made $3580,48 million. In classical section of RTS it made $40,83 million.

GAZPROM.

While we remain outside the market.