Nov 13. Transneft's Q307 RAS net profit skyrocketed 93.2% q-o-q.

Finamrus com 13.11.2007 14:37
http://www.finamrus.com/newtopics/news03C88/default.asp

Transneft's Q307 RAS net profit skyrocketed 93.2% q-o-q. As the pipeline monopoly said in its materials, net profit surged primarily thanks to the formation of positive exchange differences in dollar-denominated loans raised to fund the ESPO project, which is attributable to a reduction in the Russian Central Bank's dollar exchange rate against the ruble.

Nov 12. Severstal-controlled Severstal-Resource has reached an agreement on the takeover of Irish mining group Celtic Resources

Finamrus com 12.11.2007 14:27
http://www.finamrus.com/newtopics/news03C75/default.asp

Severstal-controlled Severstal-Resource has reached an agreement on the takeover of Irish mining group Celtic Resources through Centroferve, its subsidiary, Severstal's press service reported Friday. A press release specified that Severstal, which already owns 29.7% of Celtic and managed to make arrangements with Barrick Gold on the acquisition of another 6.6% stake, has raised its takeover bid from 2.70 pounds to 2.80 pounds per share. Furthermore, the Russian structure is prepared to pay 2.90 per share if it succeeds in consolidating more than 80% of Celtic securities. "This will provide Severstal-Resource with the right to launch forced buyout of all remaining Celtic shares from the latter's shareholders in accordance with the Irish Takeover Panel Act" – the press release said.

Nov 9. Gazprom's BoD chairman Alexey Miller held a working meeting with Belarusian Prime Minister Vladimir Semashko in Moscow Thursday

Finamrus com 09.11.2007 14:07
http://www.finamrus.com/newtopics/news03C67/default.asp

Gazprom's BoD chairman Alexey Miller held a working meeting with Belarusian Prime Minister Vladimir Semashko in Moscow Thursday, the gas concern's PR department reported. "During the meeting the parties confirmed their commitment to fulfilling the terms of the agreement on gas supply and transit in 2007-2011 that was signed between Gazprom and Beltransgaz on December 31, 2006" – the press release said. The parties also discussed the Belarusian party's proposal for Gazprom to take part in investment projects executed in Belarus in the power utilities and mineral fertilizer industries.

Nov 7. Shares of oil major Rosneft and real estate development company PIK have been added to the indexes tracked by MSCI Barra.

Finamrus com 07.11.2007 13:01
http://www.finamrus.com/newtopics/news03C46/default.asp

Shares of oil major Rosneft and real estate development company PIK have been added to the indexes tracked by MSCI Barra. As MSCI Barra said in a statement, the rebalanced index will take effect on November 30. Rosneft's weighting in the MSCI EM Index will be 0.63% and 0.34% for PIK. Rosneft has been named among the largest newcomers in the MSCI Emerging Markets along with Brazilian Itausa, South African Remgro, Chinese companies China Merchants Bank and China Coal Energy. Starting November 30 the MSCI World Index will track such companies as ConocoPhillips, Standard Chartered, Colgate-Palmolive and Schering-Plough. Earlier MSCI said Rosneft's shares, Sberbank's prefs and TMK's GDRs will be added to the MSCI Russia Standard Index by May 2008.

Nov 2. Goldman Sachs raises Norilsk Nickel target price 7%, reiterates Hold.

Finamrus com 02.11.2007 17:26
http://www.finamrus.com/newtopics/news03C2B/default.asp

Goldman Sachs has raised its target price for Norilsk Nickel's shares from $252 to $269, GS said in an equity research note. The Hold recommendation on the stock was left unchanged.

Oct 29. VSMPO-Avisma has acquired 30% of Urals Gold

Finamrus com 29.10.2007 14:30
http://www.finamrus.com/newtopics/news03BE1/default.asp

VSMPO-Avisma has acquired 30% of Urals Gold which is licensed to tap the Yuzhno-Shameyskoye field of molybdenum ores in the Sverdlovsk region. As the corporation's spokesman told Interfax, the deal was transacted in September and the corporation is looking to raise its interest in the company to 50%. For the record, Urals Gold, a subsidiary of UGMK, placed a winning bid to acquire a 25-license to develop the Yuzhno-Shameyskoye field this September.

Oct 26. BP, TNK-BP and Gazprom could form an alliance by the end of 2007

Finamrus com 26.10.2007 13:19
http://www.finamrus.com/newtopics/news03BD6/default.asp

BP, TNK-BP and Gazprom could form an alliance by the end of 2007, TNK-BP's executive director for gas development and a major shareholder Victor Vekselberg told reporters in Lisbon. "We expect to work out a possible scheme of the alliance's structure by the end of the year" – he said.

Oct 25. Gazprom takes StatoilHydro on board Shtokman.

Finamrus com 25.10.2007 18:07
http://www.finamrus.com/newtopics/news03BCC/default.asp

Merged Norwegian state-run oil and gas company StatoilHydro is to enter a consortium to execute the first stage of a project to tap the Shtokman gas condensate field in the offshore zone of the Barents Sea. On Thursday Russian President Vladimir Putin spoke with Norwegian Prime Minister Jens Stoltenberg on the phone. "In light of the arrangements made by Gazprom about the participation of Norwegian company StatoilHydro in developing the Shtokman gas condensate field, Putin and Stoltenberg pointed out that this multilateral project (French company Total is also a consortium member) means new strategic thresholds for cooperation activities in the energy sector. Both parties are confident that the Russian-Norwegian partnership within this large-scale project will give a shot in the arm to bilateral relations in other sectors as well" – the presidential press service reported. Gazprom's press office confirmed that the signing ceremony for the respective documents is slated for Thursday. Details of the agreement are to be made public at a later time.

Oct 22. The Bank of Russia does not rule out raising the refinancing rate by the end of 2007

Finamrus com 22.10.2007 15:10
http://www.finamrus.com/newtopics/news03B97/default.asp

The Bank of Russia does not rule out raising the refinancing rate by the end of 2007, first deputy CBR chairman Alexey Ulyukaev said Friday at the conference "The Russian Banking Sector: Growth Factors". "The refinancing rate is a symbolic position linked with inflation and we should and apparently will raise the refinancing rate" – he said. As wired earlier, CBR forecasts 2007 inflation at 9.5-10%. At present, the refinancing rate stands at 10%.

Oct 22. TGC-5 has wrapped up distribution of its GDRs as part of a pilot spin-off from UES,

Finamrus com 22.10.2007 15:01
http://www.finamrus.com/newtopics/news03B8E/default.asp

TGC-5 has wrapped up distribution of its GDRs as part of a pilot spin-off from UES, as less than half of the energy holding's GDR holders (43.8% of all shareholders) decided to receive receipts on the genco's shares, TGC-5 said in a press release. All in all, 65.7% of UES' GDR holders converted their receipts into TGC-5's securities (21.9% of them converted GDRs into the genco's shares). Other shareholders preferred cash to shares or receipts. All in all, 6.4% of TGC-5's shares were subject to the conversion. Following the placement, the share of GDR holders equaled 2.8% and that of TGC-5's stock holders came to 1.4%. TGC-5 believes that in the near future the number of GDR holders could increase primarily on the back of the acquisition of TGC-5's GDRs by US investors who were unable to take part in the stock distribution procedure because of some legal restrictions

Oct 19. Eurocement Holding AG, which owns 98% of Eurocement Group's charter capital, forwarded an offer to the company's minority shareholders

Finamrus com 19.10.2007 14:43
http://www.finamrus.com/newtopics/news03B80/default.asp

Eurocement Holding AG, which owns 98% of Eurocement Group's charter capital, forwarded an offer to the company's minority shareholders to buy out their holdings. The regional directorate of the Federal Securities Service in the Central Federal District received the document on October 3. Eurocement intends to offer Rub 157,252 per share of Eurocement Group. This price was recommended by Price Inform. Based on this valuation and the amount of Eurocement Group's charter capital consisting 500,000 common shares, the entire company could cost Rub 78.6 bln or $3.15 bln. Data shown in the buyout offer allow investors to assume that Filaret Galchev, Eurocement Group's beneficial owner, bought the company's interest from his long-time partner Georgy Krasnyansky.

Oct 15. Norilsk Nickel expects to see nickel prices stay high in the mid-term outlook

Finamrus com 15.10.2007 13:04
http://www.finamrus.com/newtopics/news03B45/default.asp

Norilsk Nickel expects to see nickel prices stay high in the mid-term outlook, Norilsk Nickel CEO Denis Morozov told reporters. "By and large, we project that demand will be sustainable. Compared to July-September, Q407 demand for nickel and nickel production orders is on the rise from Chinese stainless steel manufacturers" – he said.

Oct 12. Mechel Group ramped up output of rolled products 10% y-o-y to 3,875,000 tons in 9M07

Finamrus com 12.10.2007 12:41
http://www.finamrus.com/newtopics/news03B32/default.asp

Mechel Group ramped up output of rolled products 10% y-o-y to 3,875,000 tons in 9M07, the metal group said in a statement. In the reporting period steel production rose 3% to 4,562,000 tons and pig iron manufacture jumped 6% to 2,837,000 tons. Nickel turnout surged 22% in the January-September period of 2007 to 12,840 tons. As for other metrics, coal extraction jumped 8% to 13,409,000 tons, while coking coal extraction tumbled 8% to 6,354,000 tons and thermal coal output soared 30% to 7,055,000 tons.

Oct 10. Goldman Sachs cuts Gazprom target price 1%, leaves Buy recommendation unchanged.

Finamrus com 10.10.2007 17:35
http://www.finamrus.com/newtopics/news03B20/default.asp

Goldman Sachs (GS) has revised downward its target price for Gazprom's shares from $13.30 to $13.20, GS said in an equity research note. The Buy recommendation on the gas holding's securities was left unchanged. GS analysts adjusted the gas giant's valuation model taking into account a more conservative forecast for the gas holding's gas exports this year, the fact that its pension fund is no longer listed on its balance sheet and a contraction in Gazprom's treasury stocks. Be that as it may, Gazprom's stocks still hold substantial upside potential to the level GS analysts project, and they therefore reiterated their Buy recommendation.

Oct 9. Merrill Lynch raises Tatneft’s target price 8%, reiterates Buy recommendation.

Finamrus com 09.10.2007 18:13
http://www.finamrus.com/newtopics/news03B0A/default.asp

Investment bank Merrill Lynch has revised upward its target price for Tatneft's securities from $6.00 to $6.50, the bank said in an equity research note. The Buy recommendation on the stock was left unchanged.

Oct 5. Goldman Sachs cuts Comstar-UTS GDR to Sell, raises target price 12%.

Finamrus com 05.10.2007 15:34
http://www.finamrus.com/newtopics/news03AE0/default.asp

Goldman Sachs (GS) has raised its target price for Global Depositary Receipts (GDRs) of Comstar-UTS by 12.1% to $12.00 per receipt, GS said in a daily research note. At the same time, the stock recommendation was downgraded from Hold to Sell. The downside potential of the telecom company's GDRs to the new level projected by GS analysts, even if it is raised, is too big, which prompted them to cut the stock recommendation to Sell.

Oct 4. Goldman Sachs raises VTB GDR to Hold, cuts target price 16%.

Finamrus com 04.10.2007 14:27
http://www.finamrus.com/newtopics/news03AD1/default.asp

Goldman Sachs has upgraded its target price for VTB's GDRs from $100.73 to $9.07 after the bank released its Q207 financials, GS said in a note. Meanwhile, the stock recommendation was lifted from Sell to Hold because of a recent decline in the lender’s stock valuations.

Sept 28. Trubnaya Metallurgicheskaya Kompaniya (TMK) generated $289.12 mln in H107 IAS net profit

Finamrus com 28.09.2007 14:43
http://www.finamrus.com/newtopics/news03A85/default.asp

Trubnaya Metallurgicheskaya Kompaniya (TMK) generated $289.12 mln in H107 IAS net profit or 25.77% higher than in the same period a year ago. As TMK said in the report, in the reporting period sales jumped 28.145 to $2,030.04 mln and EBITDA grew a hefty 30% to $499.5 mln.

Sept 27. Goldman Sachs cuts Norilsk Nickel recommendation to Hold, raising target price 2.4%.

Finamrus com 27.09.2007 17:04
http://www.finamrus.com/newtopics/news03A79/default.asp

Goldman Sachs has revised upward its target price for Norilsk Nickel's shares from $246 to $252, Goldman Sachs said in a daily overview, while the stock recommendation was reduced from Buy to Hold. GS analysts adjusted Norilsk Nickel's valuation model taking into account new forecasts for nickel and copper prices in Q307 that were made in accordance with the current market levels. Be that as it may, even after the target price's upgrade Norilsk Nickel's stocks hold no upside potential to the level GS experts forecast, as a result of which the recommendation on the metal major's securities was lowered to Hold.

Sept 26. GDP rose 6.4% in August and 7.7% in 8M07.

Finamrus com 26.09.2007 15:57
http://www.finamrus.com/newtopics/news03A64/default.asp

Russia's gross domestic product (GDP) surged 6.4% in August compared to the year-earlier period, director of the Economic Development and Trade Ministry's Consolidated Macroeconomic Forecasting Department Andrey Klepach said Wednesday at a briefing citing the ministry's estimates. According to him, GDP jumped 7.7% y-o-y in January-August 2007, according to the ministry's calculations.

Sept 25. Sberbank intends to generate at least Rub 74 bln in 9M07 RAS net profit

Finamrus com 25.09.2007 14:03
http://www.finamrus.com/newtopics/news03A47/default.asp

Sberbank intends to generate at least Rub 74 bln in 9M07 RAS net profit, the lender said in a statement. This figure is 11.4% higher than in the same period a year ago (Rub 66.4 bln in January-September 2006). Sberbank forecasts balance sheet profit to be no less than Rub 95 bln in 9M07 or 13.5% more than in the year-earlier period. The bank's net assets are expected at Rub 4,500 bln and equity capital at Rub 615 bln as of the end of Q307. The lending institution makes forecasts for its headline financials on the basis of the figures achieved and taking into account the trends seen on the market of banking products and services, the statement said.

Sept 21. Sberbank's 8M07 RAS net profit jumps 8.3% to Rub 66.3 bln.

Finamrus com 21.09.2007 15:22
http://www.finamrus.com/newtopics/news03A24/default.asp

During the first eight months of 2007 Sberbank generated Rub 66.3 bln in net profit compiled under Russian Accounting Standards (RAS), the lending institution said in a report posted on its web site. This figure is 8.3% higher than in the same period a year ago when the lender's net profit reached Rub 61.2 bln. As for other indicators, pre-tax profit jumped 11.6% y-o-y to Rub 85.3 bln from Rub 76.4 bln, equity capital soared 77.3% to Rub 618.3 bln from Rub 348.7 bln and the bank's credit portfolio surged 20.8% during this period from Rub 2,712.4 bln as of early 2007 to Rub 3,277 bln.

Sept 20. Russian oil company Lukoil should take part in a new tender under the Western Kurna-2 project,

Finamrus com 20.09.2007 13:01
http://www.finamrus.com/newtopics/news03A0B/default.asp

Russian oil company Lukoil should take part in a new tender under the Western Kurna-2 project, but it will enjoy an advantage over companies from other countries, Iraqi Minister of Foreign Affairs Hushiar Zibari announced. "Yes, that's exactly what we discussed today (with Lukoil CEO Vagit Aalekperov). This contract was signed and terminated back at the time of Saddam Hussein. Be that as it may, Lukoil did a lot during this contract and will certainly have an advantage" – Zibari said in an interview with Interfax in Moscow Wednesday. He said that his meeting Wednesday with Alekperov was "good and useful".

Sept 18. Norilsk Nickel, Alrosa, Gazprom or Rosneft could launch SPO in Hong Kong by 2009.

Finamrus com 18.09.2007 17:58
http://www.finamrus.com/newtopics/news039FB/default.asp

One of Russia's largest corporations – Norilsk Nickel, Alrosa, Gazprom or Rosneft – will float additional shares on the Hong Kong Exchange by 2009, executive director of Sallmanns Russia (a joint venture established by Asia's biggest appraiser Sallmanns Group and Eurasia Strategics) Sergey Man told the media Tuesday. "Barring the outbreak of a nuclear war or some other crisis, one of these companies will stage an SPO within the next two years" – he said. According to him, SPO initiatives on an Asian exchange could be of interest to corporations that do big business in China or Southeastern Asia. On Tuesday, Sallmanns Russia jointly with Hong Kong-based holding Hong Kong Exchanges announced the start-up of operations in Russia. "We have plans to provide appraisal and IPO advisory services not only in Hong Kong, but also worldwide" - Sallmanns Group's executive director Paul Brown said. "We've already launched talks with the country's largest O&G and IT companies and the first deals could be struck within a matter of 2 months" – Man noted.

Sept 14. Duties of the Transneft CEO before a candidate to the CEO position is nominated will be fulfilled by vice president Yury Lisin,

Finamrus com 14.09.2007 14:03
http://www.finamrus.com/newtopics/news039D7/default.asp

Duties of the Transneft CEO before a candidate to the CEO position is nominated will be fulfilled by vice president Yury Lisin, a Transneft source told Interfax. On Thursday the employment contract of Semen Vainshtok, who has run the world's largest pipeline corporation over the past eight years, expired. Russian President Vladimir Putin offered Vainshtok to head up a state-controlled corporation to prepare Sochi for the 2014 Winter Olympics.

Sept 13. UES and consultants of WGC-4 and TGC-1 have finalized the scheme for selling genco stocks to new owners

Finamrus com 13.09.2007 12:31
http://www.finamrus.com/newtopics/news039C4/default.asp

UES and consultants of WGC-4 and TGC-1 have finalized the scheme for selling genco stocks to new owners. Companies that buy state-owned shares in WGC-1 and TGC-1 (shares held by UES and due to the state in the course of utility industry reform) will be determined this Sunday, September 15. On the same day the buyer of TGC-1's SPO stocks will be announced and, as regards WGC-4, a couple of weeks will pass after the SPO before its buyer is announced. As UES's PR director Margarita Nagoga told Interfax, the deadline for accepting bids from investors willing to acquire state-owned stakes in gencos is Friday night, September 14.

Sept 12. Lukoil's H107 US GAAP net profit down 4.8% to $3,816 mln.

Finamrus com 12.09.2007 14:41
http://www.finamrus.com/newtopics/news039BC/default.asp

In the first six months of 2007 Lukoil's net profit compiled under US GAAP totaled $3,618 mln or 4.8% less than in the same period a year ago, the oil company said in its financial statement. Sales jumped 7.5% to $35,932 mln, net profit climbed 8.4% y-o-y to $2,517 mln in Q207 and second-quarter sales grew 9.9% to $20,196 mln.

Sept 11. Gazprom has increased gas supplies to Turkey via Blue Stream from 20 to 30 mln cu m per day

Finamrus com 11.09.2007 14:03
http://www.finamrus.com/newtopics/news039A5/default.asp

Gazprom has increased gas supplies to Turkey via Blue Stream from 20 to 30 mln cu m per day because of an explosion at the gas pipeline linking Iran and Turkey, the gas holding's PR department reported. Gas deliveries were increased at the request of Turkish company Botash and additional gas volumes will be pumped to the country until the consequences of the accident are eliminated. As news agencies wired earlier, the blast occurred Sunday night at the gas pipeline through which Iranian gas is supplied to Turkey.

Sept 7. Merrill Lynch upgrades Norilsk Nickel to Buy, reiterates target price

Finamrus com 07.09.2007 16:01
http://www.finamrus.com/newtopics/news0398A/default.asp
Investment bank Merrill Lynch has lifted its recommendation on Norilsk Nickel shares to Buy, the investment bank said in a note. The target price calculated by the bank's analysts was left unchanged at $280.

Sept 6. Merrill Lynch downgrades UES target price 6%, reiterates Buy recommendation.

Finamrus com 06.09.2007 18:38
http://www.finamrus.com/newtopics/news0397A/default.asp

Investment bank Merrill Lynch has cut its target price for UES securities from $1.60 to $1.51 taking into account the unbundled assets, WGC-5 and TGC-5, the investment bank said in a note. Meanwhile, the Buy recommendation on the stock was left unchanged.

Sept 4. MTS increased Q207 US GAAP net profit 72.4%.

Finamrus com 04.09.2007 17:28
http://www.finamrus.com/newtopics/news03957/default.asp

In April-June 2007 Mobile TeleSystems (MTS) generated $507.9 mln in net profit or 72.4% more than in the same period a year ago, the company said in a press release. Meanwhile, sales surged 31.9% to $1,968.6 mln and OIBDA spiked 39.5% to $1,018.7 mln.

Sept 3. United Company RusAl (UC RusAl) could have to reschedule its IPO from November to 2008 because of litigation risks

Finamrus com 03.09.2007 14:04
http://www.finamrus.com/newtopics/news0393C/default.asp

United Company RusAl (UC RusAl) could have to reschedule its IPO from November to 2008 because of litigation risks, Euroweek wrote without naming the source of information. UC RusAl could net some $7.5 bln at the IPO from placing 25% of its securities. The offering should be approved by Britain's Financial Services Authority. "Conflicting demands regarding UC RusAl's ownership and potential litigations after the IPO could complicate FSA's task and, as expected, could lead to a rollback in the IPO timing" – the magazine wrote.

Aug 30. Lukoil set to sign an agreement on Venezuelan project by year-end 2007.

Finamrus com 30.08.2007 17:04
http://www.finamrus.com/newtopics/news03927/default.asp

Russia's No. 1 oil company Lukoil intends to pen an agreement on the execution of a project in Venezuela by the end of 2007, Lukoil CEO Vagit Alekperov said at a press conference Thursday. "We are hopeful that this year we'll have a coordinated contract with Venezuela on the table. We think that this scenario is technically feasible and we are prepared for this" – he said. At the same time, the oil firm's chief executive pointed out that the agreement will be signed on the terms of effective Venezuelan legislation. Currently, Lukoil's professionals are exploring the option of tapping a heavy crude field and executing a demothballing project in Venezuela.

Aug 29. Citibank upgrades Sberbank rating 4%, reiterates Buy recommendation.

Finamrus com 29.08.2007 16:30
http://www.finamrus.com/newtopics/news03911/default.asp

Citibank has lifted its target price for Sberbank stocks from $4.50 to $4.70, Citibank said in a note. The Buy recommendation on the stock was left unchanged. Sberbank's Q107 IAS strong financial showings, robust 7M07 RAS financials and also the lender's firm positions on the Russian banking services market prompted Citibank analysts to upgrade forecasts for the lending institution's performance. In line with the new estimates made by Citibank experts, Sberbank's FY07 net profit will be $4,337 mln (9% above the previous forecast), $5,452 mln in 2008 (a 2% increase) and $7.02 bln in 2009 (growth of 1% above the forecast).

Aug 27. Lukoil has reduced crude oil supplies to Germany by 33% of its current volumes

Finamrus com 27.08.2007 13:03
http://www.finamrus.com/newtopics/news038DF/default.asp

Lukoil has reduced crude oil supplies to Germany by 33% of its current volumes, Transneft's vice president Sergey Prokofiev told the Petroleum Information Agency (PIA). According to him, currently Lukoil does not meet the schedule of oil deliveries to Germany. "A contraction in oil supplies to Germany was recorded this and last month" – he added. The oil producer's spokesmen declined to comment on the situation and will give comments on the issue in several days" – the oil major's press service told PIA.

Aug 24. FAS authorizes Italian energy concern Enel to buy WGC-5.

Finamrus com 24.08.2007 18:54
http://www.finamrus.com/newtopics/news038DB/default.asp

The Federal Antimonopoly Service (FAS) has given authorization to Italian energy concern Enel to acquire a 70.00028% stake in WGC-5. "On August 16, the anti-trust authority issued an affirmative report allowing Enel to purchase 70.00028% of WGC-5, which equals 100% with the stocks the Italian enterprise already holds" – FAS press secretary Irina Romannikova said.

Aug 22. Credit Suisse raises Rosneft's target price 3.6%, reiterates Hold recommendation.

Finamrus com 22.08.2007 14:00
http://www.finamrus.com/newtopics/news038B9/default.asp

Investment bank Credit Suisse has lifted its target price for Rosneft's equities from $9.75 to $10.10, the bank's analysts said in a note. The Hold recommendation on the stock was reiterated. CS analysts adjusted their valuation model of Rosneft taking into account their new forecasts for this oil producer that reflect the assets it acquired from Yukos. CS experts raised their forecast for Rosneft's EBITDA 5% to $10,341 mln in 2007 and 12% to $12,484 mln in 2008. Meanwhile, Rosneft's EPS (earnings per share) forecast was lowered 5% to $0.49 in 2007 and upgraded 10% to $0.67 in 2008. Notwithstanding that Rosneft's upside potential to the level targeted by CS analysts is currently around 30%, experts reiterated their Hold recommendation. They believe that right now top picks are Novatek and Lukoil. The target price for Lukoil shares is $112.00 and $7.90 for Novatek securities. Both issuers are rated as a Buy.

Aug 20. Credit Suisse initiates coverage of WBD and Lebedyansky, rating WBD ADRs as Buy.

Finamrus com 20.08.2007 16:55
http://www.finamrus.com/newtopics/news03896/default.asp

Investment bank Credit Suisse has initiated coverage of Wimm-Bill-Dann Food Products (WBD) and Lebedyansky, the bank's analysts Vladimir Savov and Victoria Petrova said in a note. The primary recommendation on WBD's ADRs is Buy and Hold for Lebedyansky shares. The target price calculated by Credit Suisse analysts for ADRs issued by WBD is $119.50 and $107.00 for Lebedyansky securities. The bank's experts prefer WBD stocks, as this company holds firm positions on the dairy products market which is marked by fiercer competition and broader segmentation than the juice market.

Aug 17. Merrill Lynch assigns Buy recommendation to Gazprom, Hold to Lukoil and Sell to Rosneft.

Finamrus com 17.08.2007 15:35
http://www.finamrus.com/newtopics/news03885/default.asp
Investment bank Merrill Lynch has revised its target prices for Russian O&G companies it tracks and advises investors to buy Gazprom, hold Lukoil and sell Rosneft stocks... more...

Aug 10. Thursday the Federal Securities Service (FSS) suspended Russneft's issue of additional common shares

Finamrus com 10.08.2007 13:10
http://www.finamrus.com/newtopics/news0382E/default.asp

Net profit of RAO EES of Russia under IFRS raised by 5.9 fold to 149.518 bln rubs in 2006 (superset)

AK&M News 20/07/200719:38
http://www.akm.ru/eng/news/2007/july/20/ns2028235.htm

July 19. UES has allocated over $115 mln for share buyback from shareholders who oppose the reorganization.

Finamrus 19.07.2007 13:35
http://www.finamrus.com/newtopics/news0371E/default.asp
July 19. UES has allocated over $115 mln for share buyback from shareholders who oppose the reorganization. However, as a matter of fact, the power holding only expects to have shares for buyback no more than $2-3 mln...More>

Jul 18. Head of EDTM German Gref has urged Russian Federal Property Management Agency (Rosimushchestvo) to fulfill the 2007 privatization plan insofar

Finam 18.07.2007 13:24
http://www.finamrus.com/newtopics/news03713/default.asp

This year, we will demand fulfillment of the privatization plan in full", he said addressing a meeting of heads of the agency's regional divisions. "It is necessary to abandon the annual practice of failure to fulfill the privatization plan. There are objective difficulties which complicate privatization. However, assets are to be sold off as much as possible", Gref said as he reminded officials of the need to comply with the provisions of the RF President's State-of-the-Nation Address about releasing the state from inappropriate functions.

Jul 6. GDP growth rates proved to be 2-year record low in June

Finamrus 06.07.2007 12:19
http://www.finamrus.com/newtopics/news03691/default.asp

Rosneft is to sell to Vnesheconombank (VEB) a 50% stake in Tomskneft VNK

Finam 03.07.2007 13:06
http://www.fin-rus.com/newtopics/news0365F/default.asp

IPO 2008 in Russia (Kamaz)

The Kamaz (RTS: KMAZ) company’s general director , Mr. Kogogin, made a statement at today’s press conference. According to it, the KAMAZ is going to raise at least $300 million through an IPO which is thought to be held by the company in the second half of the year 2008.

Alrosa to raise dividends 14%

Interfax Jun 25 2007 11:18AM
http://www.interfax.ru/e/B/finances/26.html?id_issue=11775232

Gazprom Neft to pay shareholders 8,0822 rubles per common share (61% of net profit for 2006).
Hydro OGK: the dividend payout for 1Q07 will amount to 0,00793872 rubles per common share

VSMPO-Avisma planning an IPO at the end of 2008 or in 2009

Net profit of Sberbank (Russian accounting standards) is 44,4 bln rubles in 5 months 2007.

Official

Deputy Prime Minister Sergei Naryshkin: inflation in Russia this year will not exceed 8%. Russia’s gold and forex reserves amounted to $403 bln on June 1, and the Stabilization Fund is $120 bln, he said.
Deputy Prime Minister Alexander Zhukov: Russian industrial output grew 7,4% in January-May 2007.
Rosstat: russian oil output grew 3,2% in January-May 2007

RTS 06/13/07

06.13.07
...................last......... close (%)
RTSI ......1806.68..... +0,46
RTSI-2 ..1994,48..... +0,04
EESR ......1,335......... +2,57
SBER ......3665.......... +0,27
GMKN..... 195........... +0,36
LKOH...... 74,95........ -0,46
SNGS .........1,10........ +1,38
ROSN .........7,82........ -0,13

Russian Stocks on Saturday 06/09/07.

The RTS index grew 0.47% to 1798.49 ($33.868 million on the classic market) and the MICEX rose 0.41% to 1594.1. (24.956 billion rubles on the stock section)
Gazprom (RTS: GAZP) grew 0.7%,
Lukoil (RTS: LKOH) shed 0.1%,
Rosneft (RTS: ROSN) was up 0.1%,
Surgutneftegas (RTS: SNGS) fell 0.6%,
Tatneft (RTS: TATN) climbed 1%,
Gazprom Neft gained 0.3%,
Sberbank (RTS: SBER) was up 0.7%,
VTB dropped 0.2%,
UES (RTS: EESR) grew 1.2%,
Norilsk Nickel (RTS: GMKN) grew 0.8%,
Polyus Gold (RTS: PLZL) was down 0.2%,
Rostelecom (RTS: RTKM) gained 0.2%.
My RTS target is 1895 points in one – two weeks.

Stocks drop to 1790 mark on RTS Index

Jun 8 2007 7:52PM MOSCOW. June 8 (Interfax)
http://www.interfax.ru/e/B/finances/26.html?id_issue=11765515

Auction for Yukos transport assets cancelled due to lack of bids

Jun 6 2007 6:32PM

MOSCOW. June 6 (Interfax)

http://www.interfax.ru/e/B/finances/26.html?id_issue=11763277

Govt to sell stake in OGK-5 at open auction in 2008-2009

Jun 6 2007 5:19PM
MOSCOW. June 6 (Interfax)
http://www.interfax.ru/e/B/finances/26.html?id_issue=11763178

Stock market stops growing as demand peters out

Jun 6 2007 2:29PM

MOSCOW. June 6 (Interfax)

http://www.interfax.ru/e/B/finances/26.html?id_issue=11762880

Procter & Gamble to invest over $100 mln in Russia

Jun 5 2007 6:14PM

MOSCOW. June 5 (Interfax)

http://www.interfax.ru/e/B/finances/26.html?id_issue=11762311

TNK-BP increases US GAAP net profit 40% to $6.629 bln in 2006

Jun 5 2007 1:17PM
MOSCOW. June 5 (Interfax)

http://www.interfax.ru/e/B/finances/26.html?id_issue=11761847

Russia ups oil production 3.2%, gas 0.3% in 5 mths

Jun 4 2007 10:54AM
MOSCOW. June 4 (Interfax)
http://www.interfax.ru/e/B/finances/26.html?id_issue=11760755

Capitalization of Russian stock market increases 2.02% on Friday

Jun 4 2007 9:02AM
MOSCOW. June 4 (Interfax)
http://www.interfax.ru/e/B/finances/26.html?id_issue=11760615

Federal budget balance 283 bln rubles in 2006

Interfax Jun 1 2007 5:16PM
MOSCOW. June 1 (Interfax)

http://www.interfax.ru/e/B/finances/26.html?id_issue=11760243

Oil & gas. Russian authorities to decide on TNK-BP’s Kovykta, Imperial Energy’s licenses

Aton Capital 1 Jun 2007
http://www.aton.ru/en/index.asp

A new list of shares for calculating RTS Index is approved

RTS 01.06.2007
http://www.rts.ru/?id=14036