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.