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Russian Stocks

GAZP   RTSI   S&P Fut   MICEX   RTS Fut

Compared charts of Russian mining and refining sectors indices


Compared charts of Russian non-mining sectors indices


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.

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Research

Daily comments

Comment Meaning'Good' 02.09 Igor Sechin backs up merger of Uralkali and Silvinit
We expect the market cap of the united company to be 20% to 30% above the total market value of Uralkali and Silvinit taken separately. A doubling of business volume, liquidity growth and a higher free float will no doubt be taken at their true worth by investors.
Mineral Fertilizers , Chemicals & Petrochemicals , Silvinit
Comment Meaning'Good' 02.09 Avtovaz sales shoot up 32% in 8M2010
August sales by Avtovaz have showed a downturn m-o-m, blamed on the stoppage of the production line for a week due to abnormally hot weather. On an annual basis, the monthly sales were up, with growth attributed to implementation of a clunker-for-cash program.
Mechanical Engineering , AvtoVAZ
Comment Meaning'Good' 02.09 Wimm-Bill-Dann net income up 7% in 1H2010
We are quite positive about the 17% surge in WBD revenue and the 7% y-o-y upturn in net income in 1H2010, but note the company’s profit margin came down because of a rapid growth in manufacturing, selling and other operating expenses.
Food , Consumer , Wimm-Bill-Dann
Comment Meaning'Bad' 01.09 Lukoil releases negative results for 2Q2010 under US GAAP
The financial results have fallen short of expectations, both on EBITDA and net income. The report reveals oil production contraction, growing production costs and narrowing profit margins. On the upside, we point out the reduction in debt leverage.
O&G , Lukoil
Comment Meaning'Good' 01.09 Lukoil may be granted tax breaks in Caspian region as of 2011
Although tax benefits have so far been agreed only for one large-scale oilfield, Korchagin, it is not excluded that the Filanovsky major oilfield will also be eligible for tax breaks, but at a later date. The latter oilfield is scheduled to come on stream in 2015.
O&G , Lukoil
Comment Meaning'Good' 01.09 M Video doubles 1H2010 net income
We regard the 1H2010 financial report from M Video only as moderately upbeat, despite more than a double increase in net income. We note the company’s modest profit margin of just 1.5%, an inconsiderable revenue growth, and strong influence of financial gains and losses on the final fiscal result.
Consumer , Retailing , M Video
Comment Meaning'Good' 31.08 Power Machines publishes moderately positive 1H2010 results
Power Machines significantly increased efficiency in 1H2010, while maintaining the scale of its business operations. To achieve strong sales growth, however, the company will need to expand production capacity, in our opinion.
Mechanical Engineering , Siloviye Mashiny

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Desk-notes & Flash-notes

02.09 Gas distribution: consolidation to be completed before end of 2010
O&G
27.08 Diod: Russia’s leading healthcare product maker
Consumer , Pharmaceutics
23.08 Ufa Refinery: promising and balanced
O&G , Chemicals & Petrochemicals , Oil and Gas Refining , Ufa Oil Refinery
06.08 Rostelecom: should preferred shareholders accept buyout offer?
Telecommunications, IT , Rostelecom
02.08 Gazprom: unjustifiably undervalued
O&G , Gazprom
29.07 Tactics – August 2010: Lack of catalysts may restrain equity market
22.07 Kuzbass Fuel Company: ambitious steam coal producer
Metals , Coal , OJSC "Kuzbasskaya Toplivnaya Company"
02.07 Strategy for 3Q2010: Correction adds appeal to Russian equities
Economics & Strategies
24.06 Mosenergo: on way to cost-effectiveness enhancement
Power Utilities , Heat Generation , Mosenergo
15.06 Buy-back by Acron: risks and opportunities
Chemicals & Petrochemicals , Mineral Fertilizers , Acron

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