Hay Scotia, give horse feed scenario we expected recovery in the market, based on good reporting of U.S. companies and stabilization /growth in oil prices, has become a reality. However, these factors have not yet before the end of play. Of course, the growth line is not the case, but it is very likely that this month the Russian indices will be higher. In the current semester with a high probability to remain comfortable in oil prices, plus our assets too cheap on the DCF evaluation, which means you can count on the inflow of non-residents, that it became clear that the cheap oil and the cold war canceled. Growth in public spending of all types will increase the money supply, the pessimists believe that the liquidity will go to the currency market, the collapse of the ruble. However, in our view, the money will go to the market of shares and bonds. In terms of evaluation, based on discounted cash flows, our baseline scenario assumes 900-1200, optimistic - 1300-1500 points on the RTS index. Bookmark shall be shares of oil and gas sector, the worse the market - the banking sector. The Government's decision on rates also moderately negative for the electricity sector. And we suggest to focus on Rusgidro, water, unlike coal and gas, free of charge. The crisis, of course, implies a high volatility, however, the most beautiful in any game - it is through on the scoreboard. With a very high probability, as in the first half of the final account will be on the side of bulls, once again confirming the fact that the stock market and the macroeconomy - these are two big differences. Hay Scotia, give horses feed. Authorize and appreciate the story;; 7 users rated material at 3,3. Analyst Ratings
In the 1 half of 2009, Russian Railways invested more than 2.6 billion rubles in the development of track and capacity core network of railways of Russia, said the company. RZhD implementing an investment project on development of transport facilities, which includes the construction of second tracks, lengthening of station tracks, upgrading of railway junctions, marshalling yards, port and border stations. The project includes the following activities: - Construction of second tracks on перегоне separation Kievskiy - art. Varenikovskaya (separation of the 9 km - Yurovsky - Anapa - Temryuk - Caucasus North Caucasus Railway). Completion of work and commissioning the facility is planned in 2010; - otpravochnyh elongation of two-way for 18 yards; - Development of yards, including mechanization and automation of sorting of the slides for 8 yards (at a sweet-sorting, Lyangasovo Gorky Railway, Valuiki, Stary Oskol South Eastern Railway, Novokuznetsk-East West Siberian, Magnitogorsk, Southern Ural cargo railway, Perm, Sverdlovsk railway marshalling, New Elovka Krasnoyarsk Well.
As part of measures to stabilize and rehabilitate the situation in the Russian automobile industry in the list of cars sold in the state program subsidized consumer car, including new models, said the Ministry of Industry and Trade. Government Decree number 548 includes the following changes in the grace of car: - lowering the minimum pre-purchased for cars up to 15% of their value, - increase the maximum value of vehicles up to 600 thousand rubles, - the provision of soft loans, not only for the purchase of cars and light commercial vehicles (total weight up to 3.5 tonnes), - credit for up to three years, regardless of the date of its issuance, - the proliferation of loan programs at banks with capital of at least 70 billion rubles, which have representation in all federal districts. According to the order signed by the head of Minpromtorga Viktor Khristenko, the list of cars produced in Russia, where buying on credit to individuals from the budget of the Russian Federation will be compensated for part of the credit rate, included 50 models.
July 15 Board of Directors of OJSC Uralsvyazinform has decided to establish four committees of the board of directors and approved their personal composition. Committee Board of Directors of Personnel and Remuneration Committee was elected consisting of: • Sergey Kerber, chairman of the committee - Member of the Board of Directors of OAO Uralsvyazinform, the head of the Directorate of investment projects and programs - Managing Director, ZAO Leader; • Batman Mikhail, a member of the board of directors of OJSC Uralsvyazinform, the deputy director of the department - Head of department of corporate governance and legal security of Svyazinvest; • Grigorieva Alla Borisovna, a member of the board of directors of OJSC Uralsvyazinform, the Deputy Director of corporate governance and legal security of Svyazinvest; • Leschenko Michael A., Member of the Board of Directors of OJSC Uralsvyazinform, Advisor to the Minister of Communications and Mass Communication. Committee Board of Directors of the Audit: • Tushunov Dmitry, chairman of the committee, a member of the board of directors of OJSC Uralsvyazinform, the chief of analytical management - chief economist of CJSC Leader; • Queen Olga G., a member of the board of directors of OJSC Uralsvyazinform, the Chief Accountant of OJSC Svyazinvest; • Umnova Elena, a member of the board of directors of OJSC Uralsvyazinform, Deputy Director General of JSC Svyazinvest. Committee Board of Directors of Strategic Development: • Provotorov Alexander, chairman of the committee, a member of the board of directors of OJSC Uralsvyazinform, the first deputy general director of Svyazinvest; • Edward V.
proposed National Health Insurance means the imposition of new taxes. It commented on the new laws about compulsory public health insurance and a health financing director general of the Federation of Employers of Ukraine (Fru), Vasily Nadraga. The draft Law of Ukraine On Compulsory State Health Insurance proposes the creation of one additional Fund, which will lead not only to increase state officials throughout Ukraine, but also increase the cost of its contents. This can be interpreted as an attempt to usurp this Social Insurance, - said the Fru. The bill proposes to fund health care, outpatient hospital, inpatient, medical-rehabilitation services, other areas at the expense of the insurance funds collected from employers in addition, note in Fru. Thus to implement health care financing system by employers, but no measures to reduce tax pressure.
Jun 29, 2009 the annual general meeting of shareholders of OJSC Veropharm, which were approved by the annual report and annual financial statements of companies for 2008, including statements of income. Shareholders approved the distribution of profit in the following order: - 10 million rubles earmarked for payment to charitable contributions by public and religious organizations, philanthropic foundations, as well as humanitarian assistance to health care and education at the discretion of Director General of the society; - 11 million rubles to the development of social sphere; - 20 million rubles to the remuneration and compensation to members of the board of directors, committee chairpersons and members of the Board of Directors for the execution of their duties during the period from 30.06.2009g. until the next annual general meeting of shareholders; - to accumulate the remainder retained earnings in order to ensure economic growth and development of society. The shareholders have decided not to pay dividends on the basis of 2008.
Dynamics The positions of the U.S. dollar significantly affected. This pair of EUR /USD is traded on the approach to the 1.4000 mark, a pair GBP /USD rose above 1.6300, a couple of USD /CHF remains above 1.0800. Japanese yen also fell against other currencies. This pair USD /JPY traded above 93.00 marks, while a pair of EUR /JPY reached a mark of 131.00. Commodity currencies also rose against the dollar. Thus, the pair AUD /USD went above 0.7900 marks, a pair NZD /USD broke the 0.6400 mark, and the pair USD /CAD practically reached 1.1300. Causes The positions of the U.S. dollar suffered because of enhancing the propensity of investors to take risks. Before the favorable reporting Goldman Sachs, as well as data on retail sales and producer prices in the United States helped to improve investor sentiment. This enabled most risky currencies to strengthen their position against the U.S. dollar and Japanese yen. At the same time, the euro did not support the overall dynamics of bidding. The index of expectations of the Center for European Economic Research (ZEW) of Germany and the euro, which was published the day before, dropped, causing doubts about the scale and speed of economic recovery and, ultimately, hurt the euro.
According to OPEC next year, world economic growth could reach around 2.3% after a decrease of 1.4% in 2009. This is stated in the July report of the organization. Regarding the countries of the Organization for Economic Cooperation and Development (OECD), then for them to be growing at 0.7% versus 3.9% decline in the current year, for the States of the forecast growth - at 1.2% (in 2009 - reducing the economy to 2.7%), Japan - by 0,9% (a decrease of 6.4% this year), said OPEC. According to experts, there is still the greatest concern is the euro zone, where the next year may be recorded declines at 0.4% after declining by 4.6% in 2009. At the same time, developing Asian countries become the main source of growth. Thus, for China's economic growth could reach 7.5%, while for India - 6.5%.
Ability to overcome the level of 900 has called into question opening trades on Tuesday at the Russian sites have passed since gepom up. During the early trading session, the market maintained positive momentum, the field of what the market has moved in the lateral movement above the 910 index MICEX. After the release of macroeconomic data from the U.S. market was a correction. Players огорчила statistics on retail sales excluding motor vehicles (Retail Sales ex-auto, is 0.3%, expected 0.5%). As a result, the index adjusted to increase, returning to levels of discovery. Leaders of growth have become the paper of Norilsk Nickel, the growth which was 4.6%. Also, the market looked better VTB (2.5%) and Uralsvyazinform (2.3%). Worse than the market finished the day the paper Surgutneftegas (-1.6%), Polyus Gold (-0.93%) and Sberbank ordinary shares (-0.47%). At the end of the trading the MICEX index rose by 1.16%, ending the day at 891.4 points. Trading on the American sites have been lateral movement of the closing levels of the previous day, but at the end of trading session the market was able to demonstrate the positive momentum. As a result of trades Indexes Dow Jones and the NASDAQ added 0.33% and 0.36% respectively, S P500 index rose by 0.53%. Following the closure of U.S. markets has recorded Intel (of 0,18 $ /share, expected $ 0.08 /share), which was better than expectations. This has allowed futures on S P500 index show an increase of about 1%. By 10.00 the contract traded at 914 points. energy market, on our closing, showing a positive momentum. Futures oil brand Brent was able to hold above the level of 61 dollars, after which began a wave of growth. As a result, to 10.00 futures traded at 61.6 dollars per barrel. Today, we expect a positive opening on our sites, on a positive external background in terms of futures on U.S. indices and energy prices. Yesterday, the evening decline, the market was unable to gain a higher upper bound of the downstream channel and the level of 900 points on the MICEX index. Today, the bulls Retry breakdown of these levels, but the possibility of overcoming them, and subsequent positive momentum remains in question. It is likely that the market does not have the strength that will result in a new wave of decline. Authorize and appreciate the story;; 5 users rated material at 3,2. Analyst Ratings
Belgian RHJ International, associated with the American investfirmoy Ripplewood, on Wednesday will send a new offer for the purchase of the German Opel, offered for a controlling stake in automakers 300 million euros, reports Bloomberg. Against the backdrop of heightened struggle for the purchase of American General Motors Opel can get this week is also an improved proposal from the Canadian Magna, which was in alliance with Sberbank (RTS: SBER), writes The Wall Street Journal. According to the source of the newspaper, GM expected that Magna may vybyt of struggle because of increased competition, but the Canadian company was still confident of victory and is preparing a new proposal. RHJ, offering over 50% of the shares with a small Opel 300 million euros (according to The Wall Street Journal - 300 million dollars), also looks at the guarantees the Government of Germany in the Euro 3.8 billion and promises to save companies Opel in Germany.