About FINAM

Finam is an investment holding that incorporates a brokerage, rated as Russia’s #1 broker in terms of turnover on the Russian stock market, a bank, an information agency – Finam.ru, an asset management company, high-tech investment funds and a licensed European broker. Finam provides the entire range of services needed for effective investments in both Russia and on international markets.

Services for institutional investors

FINAM provides a full range of services to institutional clients throughout the global investment community. FINAM trades various instruments such as Equities, Fixed Income and Commodities. It also offers Market Making, Origination and Listing services, operates as a Prime Broker and Custodian, and provides full electronic trading and related services such as Stock Loan Operations, and more, on every Russian stock exchange.

FinamTrade – Online Trading of Russian Stocks in EUR or USD

No installation on your computer required
Market depth and advanced technical analysis
Interactive state of art Orders Modification system
Detailed customer’s portfolio
Most user-friendly layout and system settings
News module (plus RSS tapes)
Extensive list of quotes and charts for thousands of financial instruments

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Research

Daily comments

12.05 Holding MRSK confirms transferring under management of the FGC

Holding MRSK confirmed yesterday’s information about its future transferring under management of the Federal grid company. Nevertheless, no specific details have been disclosed.

Distribution Grids , Power Utilities , IDGC Holding

11.05 WASDE report could put Russian fertilizer equities under pressure

Yesterday, the U.S. Department of Agriculture published its estimates of major crops stocks in the U.S. and globally. The forecasted corn stock-to-use ratio turned out to be higher than expected. Most of the Western fertilizer producers underperformed the benchmarks on the news. We expect the stocks of the Russian fertilizer producers to experience some pressure as well.

Chemicals & Petrochemicals

11.05 Kubanenergo: no dividends for 2011

Since Kubanenergo posted a RUB 1.9 bn net loss for 2011, the company’s BoD recommended no dividends for the year. The main catalyst for the name is concerned with the upcoming buyout offer to Kubanenergo minorities from Tyumenenergo.

Distribution Grids , Power Utilities , Kubanenergo

10.05 Inter RAO to consolidate TGK-11

Inter RAO has increased its stake in TGK-11 to 85% and is going to make a buyout offer to the rest of the TGK-11 minorities. Considering Inter RAO’s commitment to a complete consolidation of TGK-11, we believe that the offer will be at an attractive price level.

Power Utilities

10.05 KuibyshevAzot (KAZT) announces 1Q12 operational results.

KuibyshevAzot has announced its 1Q12 operational results. We assess the 1Q12 results as neutral for the name, however, we note the decrease in the production of nylon-6 due to scheduled maintenance.

Mineral Fertilizers , Chemicals & Petrochemicals , KuibyshevAzot

10.05 Evraz is seeking shareholders’ approval for a 10% buyback

Evraz will ask its shareholders to approve a share buyback of up to 10% at the AGM scheduled for the 18th of June. On one hand, the buyback looks reasonable given the sharp decline of the share price, but on the other hand, a fairly substantial debt load moderating cash flows and a number of important capex-intensive projects has given not much room for actions of this type. We expect to see a moderately positive reaction from the market, with the effect unlikely being long-lived.

Iron Ore Mining , Minerals Extraction , EVRAZ

05.05 E.On Russia: BoD recommends RUB 0.06 per share

E.On Russia may resume paying out dividends for the first time since 2007. The BoD’s recommendation (RUB 0.058 per share) is to be considered at the 29 June, 2012 AGM; the record date is scheduled for May 14.

Power Utilities