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NEWS / Forex Forecasts

Russian shares were corrected in narrow price range on decrease in world oil prices.

13:45 11/16/2006

MACROECONOMICS.

 

The head of Foreign Policy and Trading Departments of the countries-members of a forum of Asian-Pacific economic cooperation/APEC/ supported the prompt joining of Russia to the World trading organization/WTO/. (according to materials of PRIME-TASS)

 

"Ministers welcomed the significant progress achieved by the Russian Federation during the joining WTO, and emphasized importance of the efforts directed to the end of negotiations about the prompt joining of Russia /in this organization /". About this is said in the joint statement on results of 18-th meeting of Ministers for APEC Foreign Affairs and trade, which finishes today in Hanoi.

 

The meeting is a final stage of preparation for APEC annual summit on November, 18-19th in the Vietnamese capital. APEC includes 21 countries and territory of regions: Russia, the USA, China, Japan, Australia and South Korea.

 

As ITAR-TASS informed the first deputy minister of foreign affairs of the Russian Federation Andrey Denisov who is a part of the Russian delegation at a ministerial meeting and “WTO general director Paskal Lami, invited as a guest, and many others supported the prompt joining of Russia to WTO, expressed satisfaction with those boundaries which we achieved today”. "However, - he noted, - there was said that greater work is still ahead. It is early to think about rest on laurels".

 

According to press-center of the Central Bank of Russia the gold and exchange currency reserve of Russia for the period from November, 3 till November, 10th 2006 grew from 274,2 billion dollars up to 277,0 billion dollars. The official information of department of foreign and public relations of the Central bank of the Russian Federation informed on this the PRIME-TASS on Thursday.

 

MARKET’S GENERAL ESTIMATION.

 

On Wednesday the Russian stock market finished the day with the moderate growth, which was promoted by growing oil expecting the publication of week stocks in the USA. By the evening it became known that according to EIA oil stocks in the country were up 1,3 million barrels (at expected growth of 0,3) up to 336,0 million barrels, and petroleum and distillates were down 3,7 and 3,6 million barrels to 200,3 and 135,0 (smaller decrease of 0,1 and 0,4 million barrels accordingly was predicted).MICEX index rose 0,39 % up to 1504,61 points, RTS index raised 0,36 % and made 1705,84 points.

 

Shares of oil companies on MICEX within a day were not in great demand, however after an issue of news about drop in mineral oil stocks in the USA the situation improved a little: Gazpromnrft (+1,59 %), LUKOIL (+0,93 %), Tatneft (+0,35 %),

Gazprom (+0,16 %), Surgutneftegaz (-0,06 %). Rosneft shares were not in the list of index of Morgan Stanley Capital International (MSCI) included since December, 1st that could not but affect their market quotations on MICEX (-0,48 %).

 

Shares of two other Russian companies Sberbank of Russia and Rostelecom will be included in this index, which on results of the tenders added 1,12 % and 4,75 % accordingly. It is necessary to note as a whole growth of telecommunication sector on MICEX:

Uralsvyazinform (+3,10 %), Northwest Telecom (+2,02 %), MTS (+0,98 %), Sibirtelecom (+0,43 %). Norilsk Nickel shares (-1,13 %) and RAO "United Energy Systems" of Russia (-0,42 %) showed negative dynamics on MICEX owing to drop in prices on metals.

The volume of the tenders on MICEX made $3594,81 million. In classical section of RTS it was observed at $51,11 million.

 

GAZPROM.

 

The tenders on shares of the joint-stock company show the lowest volatility. While we remain outside the market.

 

RTS

 

 

GAZPROM

 

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