the world's largest oil and gas companies in the coming week will announce the most significant reduction in profit in the history of the industry. Reported the British Sunday Times. Some of the leading sector players, including British companies BP, Royal Dutch Shell and BG Group, published this week, quarterly reports showing the damage caused by recession in combination with declining oil and gas prices, which remain far below record levels, reached a year ago. The Government fears that if the situation does not improve in the near future, industry will be forced to undertake a radical restructuring: some companies will have to sell major assets to withdraw from several countries and even entire regions, lower dividends. source in the industry said Sunday Times: If the situation remains that, as now, it will not go on sale a few old assets in the North Sea to finance capital projects.
World stock markets vague and contradictory news von Tuesday mislead investors, and added yesterday's trading volatility. Submit to market sentiment, the major stock indexes in the United States during the last session, then dropped sharply, then go in the plus. As a result, ending the trading day was marked by divergent changes in quotations. Dow Jones Industrial Average fell by 0.13% - to 9096.72 point, Standard Poor's 500reduced 0.26% - up to 979.62 point, Nasdaq Composite, on the contrary, increased by 0.39% - up to 1975 , 51 points. According to statistics, index of consumer confidence in the United States, calculated research organization Conference Board, fell in July to 46.6 point with 49.3 point a month earlier. American experts on average had expected that figure will be 49 points. At the same time, published yesterday, the index of production activity in the district of Richmond in July demonstrated a positive trend, rising to 14 points with 6 points a month earlier. The head of the Federal Reserve Bank of San Francisco Dzh.Yellen the day before in his speech in Idaho said that he sees the first serious signals out of the U.S. economy out of recession, however, she expects that revival is likely to will be painfully slow and the time the Fed to raise interest rates had not yet come. On Wednesday morning the site of the Asia-Pacific region traded mostly below zero. A small increase in the index captures the Japanese Nikkei225, despite the message that the June decline in turnover of retail trade in the country at 3%. Metals Market Tuesday, July 28, traders LME has finally been decided to correction. All non-ferrous metals traded on the London Stock Exchange, cheaper: the combined price index LMEX declined on the basis of the trading day at 1.2%. The leader of a collapse of tin, upavshee at 3.6%, nickel, copper, lead and zinc lost by 1.9%, 1.3%, 1.7% and 1.2% of the value respectively.
U.S. dollar at the Asian auctions on Wednesday ranged on a basket of major world currencies, it is not so far advanced on the minimum this year, as investors took a wait-and-see attitude in anticipation of the publication of a new portion of the United States. Foreign Exchange Market has decided to rest after the recent surge of activity, - said Mitsuru Sahara from the Bank of Tokyo-Mitsubishi UFJ. To 10.15 PM IST quotes yen to the dollar fell by more than 0.3 per cent to 94.21 per unit of Japanese currency. Quotations Euro /dollar fell to $ 1.4138 /41 from about $ 1.4167 at closing in the United States and $ 1.4305 on EBS electronic trading on Tuesday, which was the highest since early June. Investors continue to assess the state of the real economy, by studying the macroeconomic indicators of the United States.
The enterprises of JSC Territorial generating company № 2 (TGC-2) in 1 half of 2009 was released to consumers of thermal energy in the amount of 8.976 billion rubles, the report says the company. At the sametime the receivables to the thermal energy from the beginning of this year increased by 109.9 million rubles, which is in all regions of the presence of 3, 783 billion rubles. In the Tver Region total debt to the TGC-2 on the part of consumers for the released heat energy is 2, 099 billion rubles, in the Arkhangelsk - 879.2 million rubles in Kostroma - 554.9 million rubles and Yaroslavl - 231.7 million rubles. growth of receivables, primarily due to the lack of treaty relations between the settled TGK-2 and managed by Tver, Kostroma and Shari. Also not found a compromise agreement on the volume of heat and disagreement with the major consumers of office for Tver and Kostroma regions on how to determine the amount of heat released, the report says the company.
Chinese factor has brought to market volatility This morning, the Russian stock and currency markets are fully experienced the global communications sentiment on world capital markets. The collapse in oil quotes and stock indexes in Asia against the backdrop of the strengthening dollar, led to a new 3% fall in Russian stock market indices in morning trades. MICEX index fell by 977 points mark. Day falling of quotations of our shares on the stock exchanges suspended. Some of the chips for dinner even came out in the positive area, it refers, above all, the shares of our industry: 2,3% of Severstal, Mechel 2.7%. Nervous movements with the Bank of Russia has today in the domestic foreign exchange market. There, in the morning trades the dollar to ruble jumped to 66 cents (31.44), but then perhaps the intervention gosregulyatora knocked down emotions and back course on the level of 31.27. So, about China. Chinese index of Shanghai Comp. During the last 2 months of continuous growth has managed to rise to 32.7%. But bubbles always burst. This morning at the neutral-positive external background fall in Chinese stock indexes reached 7.7%. It is difficult to believe that all the money from the Chinese stock market went to the largest in the world for the past 16 months, the Chinese IPO goskompanii China State Construction Engineering. European stock markets reacted calmly to the surprise at the collapse of the Chinese stock market (FTSE 0,89%). However, this decline is seriously affecting the two important factors: a significant strengthening of the dollar and falling commodity prices. A spin-off factor of the high volatility in Chinese stock markets have been thinking of market participants that is not sell in China, a harbinger of impending storms and the markets of other developed and developing countries. I think that soon the prices of industrial metals (copper -2.15% -1.98% nickel, zinc -1.8%) will be under the pressure of demand from China and the oil to look down (Brent -1,67%) against a background of growth stocks of raw materials in the States. Up until the release of data from the United States on orders for durable goods (16-30 Moscow time), the quotations of our leading papers will continue to fluctuate around current levels. Authorize and appreciate the story;; 1 users rated material 5. Analyst Ratings
middle of the day: the market began to fall otygryvat The Russian stock market index MICEX opened with gepom (- 2.1%) down, which preceded the decline in U.S. stock indexes on Tuesday on disappointing statistics on the U.S. economy, as well as weak corporate reporting. Then the market started falling otygryvat, rising to the level of yesterday's closing. Trading volume increased substantially in comparison with yesterday, and at 12:00 Moscow time amounted to 19.381 billion rubles, which is 40% above the average for the last month. By mid-day value of the MICEX and RTS indexes to 994.79p. and 982.64p. respectively. Information von moderately negative: futures on major U.S. indices desheveyut. There has been a fall in Asian indices, but European markets traded in the black. Oil brand Brent traded at $ 68.55 (-1.90%) per barrel. Among the sectoral indices MICEX market looks better metallurgy: Severstal (4.56%), CMI (2.14%). Good performance on the index also showed the telecommunications sector: Rostelecom (1.08%), ITT (0.7%), Uralsvyazinvest (0.89%). Worse market traded Sberbank (- 0.61%), Rusgidro (- 1.2%). The oil sector is at the level of the market, despite falling prices. Authorize and appreciate the story;; Your grade will be the first! Analyst Ratings
Sales of finished products Veropharm on the basis of 1 half of 2009 decreased by 14% compared to the same period of 2008 and amounted to $ 74.3 million (in ruble terms, sales increased by 19% and amounted to 2 457.8 million). Sales prescription drugs accounted for $ 51.5 million, a 9% decrease compared to 1 half of 2008 (in ruble terms, sales amounted to 1 701.6 million, which is 27% higher compared to 1 half of 2008) . The percentage of prescription drugs in the total sales of finished products grew to 69%. Sales of traditional products were $ 1.9 million, which is 70% less compared to 1 half of 2008 (in ruble terms, sales amounted to 62.7 million, which is 58% less compared to 1 half of 2008). The share of traditional products in total sales of finished products had fallen to 3%. plasters Sales amounted to $ 13.0 million, which is 22% less than in the first six months of 2008 (in ruble terms, sales totaled 430.3 million, an 8% increase compared to the first half of 2008). The proportion of patches in the total sales of finished products was 18%. OTC drugs sales amounted to $ 7.9 million, up 13% compared to 1 half of 2008 (in ruble terms, sales totaled 263.2 million, which is 56% higher compared to 1 half of 2008).
Central Electoral Commission to approve the estimates for the days of the elections in 2010, as well as estimates for the maintenance of a public register of electors. According to calculations made by members of the CEC, for the election of a president would be required in the state budget more than 1 billion 500 million UAH, and to hold elections for local councils - 952 million 300 thousand UAH. At the meeting, members of the Central Election Commission (CEC) discussed and agreed on estimates for the holding of elections in 2010, and approved the estimates for the maintenance of public registry of voters. It is estimated that for the election of a president who, as is known, assigned to the Verkhovna Rada on 17 January 2010, need to budget about 1 billion 500 million UAH. 80% of this amount (1 billion 500 million UAH .- Ed.) - include the costs of the election commission members. This occurred primarily due to the fact that, according to the Cabinet of Ministers of July 22, members of electoral rising wages, - told the CEC Deputy Chairman Andrei Magheru. However, he had predicted that the election campaign on elections of the head of state will cost the state budget in an amount not to exceed 1 billion UAH. Recall that in 2004, for the holding of presidential elections has been allocated 391 million 46 thousand 600 UAH. Another reason why the CEC to stop at that amount, Mr. refers Magheru that under existing law, each presidential candidate has the right to invite two representatives of the territorial or precinct election commissions.
By 11:05 Moscow time the Russian stock indices show a significant decline: RTS (-3.01%), MICEX (-1.90%). Opened in negative zone with gepom down, speeded up the decline in the Russian court, against a background of negative dynamics of European stock exchanges. English FTSE losing 0.25%, French CAS40 is reduced by 0.1%. pessimism players contributed to the opening of yesterday's closure of U.S. indices in the negative zone. Dow Jones closed at 9096.72, paragraph mark, which corresponds to reduction of 0,13%, S P500 at 979.62 p. (-0.261%). This dynamic has contributed to the totality of the following factors. weakest records were a number of large companies, as well as the index of consumer confidencefell more than had been built into expectations. The prices of black gold fell against the backdrop of the strengthening dollar and expectations of growth stocks. in the oil market on Wednesday, prices continued to decline. Price nearest futures contract for WTI crude oil grade is 68.81 U.S. $ /bbl (-1.53%). All Russian blue chips at 11.05 in the red zone. Quotations most liquid shares on the MICEX as follows: Gazprom - 151,5 EUR (-1.88%), Lukoil - 1453.96 EUR (-2.29%), Rosneft - 178,7 EUR (-1.80%) MMC Norilsk Nickel - 2935 EUR (-3.30%), Sberbank - 39.63 EUR (-2.05%), VTB - 0.0366 EUR (-2.14%), Rusgidro - 1,072 rubles (-1, 56%). Recent important publications emphasize the following: AutoVAZ again reduces the production plan for 2009. Reducing business plan reflects the sharp drop in demand for products that have a negative impact on its financial results for the year. In these circumstances, the reduction of staff by 25% looks like, in our view, justified, and may allow to reduce the amount of damages by the end of the year. Nevertheless, the company officially refute the information about the reductions. According to our estimates, the fair value of 1 ordinary share of OJSC AvtoVAZ is $ 0.56, growth potential - 45%. Fair value of 1 preferred share is $ 0.22, which implies upside potential of 157% and is consistent with the recommendations of buy. Severstal has raised the price of an offer to purchase shares of High River Gold to 36%, but a number of large minority shareholders, High River, has already said they believe the new price proposals Severstal - understated. According to our estimates, the Severstal proposal is fair, taking into account the financial position of High River. Nevertheless, the development of this history should not affect the company's stock quotes, taking into account the extent of High River in the business of the group. Our 12-month target price of shares of Severstal at $ 6,5. Further dynamics of Russian sites will be determined by oil prices and the movement of U.S. stock indexes. This decline, we regard as correct for the growth to the next level of support for the MICEX index of 950 points. Stable oil prices, new heights of international indices, the revision of apocalyptic predictions of performance and good statdannye, in our opinion, are not yet fully reflected in the quotations of shares of Russian companies. Authorize and appreciate the story;; 3 users rated material 4. Analyst Ratings
National Bank forbade banks to lend to unprofitable business shareholders to buy riskier securities and to open new offices. Thus the regulator expects to reduce expenses of banks, and deny them the possibility of the owners show liquid assets of the institutions. In case of failure to comply with these requirements of the regulator will introduce a transitional administration, to deny licenses and eliminate banks. According sent decree number 421 dated July 22, On certain questions concerning the activities of banks in the financial and economic crisis, loss-making banks are not able to provide the blank (unsecured) loans, to issue new loans to insiders to buy shares and buy private securities . Also unprofitable institutions banned prematurely repay their debt securities, except for redemption at a price below 50% of face value. In addition, the NBU ordered agencies to stop the loss payment of dividends to shareholders and the allocation of capital, to discontinue the payment of bonuses, prizes and other rewards to staff. In the case of the allocation of bank funds for sponsorship of its leadership in three days is obliged to inform the Directorate of banking regulation and supervision. Also prohibited unprofitable banks to increase capital investment and intangible assets, to the cost ofadvisory services and to open new branches and offices. Failure to comply with these rules may result in the imposition of the interim administration, forced restructuring, withdrawal of license or elimination facility. National Bank will not apply the measure of influence, if finuchrezhdeny damages caused by the formation of reserves for loans issued before October 1, 2008, or restrukturizizatsiey loans.