20 December 2009, Sunday, 10:02
author: Ravil Ramazanov
The week started with high USD exchange rate with regard to Russian ruble and with the news about reduction of oil prices to 72 dollars for one barrel and one might expect that these factors would negatively affect the situation in the Russian stock exchange. But on Tuesday we observed sudden growth of RTS and MICEX by 2,15 and 0,97% correspondingly. At the same time the quotations of the leading Russian companies – so-called “blue chips” – went on coming down. After a while the oil price reached 73 dollars for one barrel and it again gave hopes to the brokers.
Russian Ministry of economic development made changes to the forecast of social-economic development of the country for 2010-2013. It is planned the general situation in 2010 will be better than it was earlier planned. Thus, the average annual oil price will grow up to 65 dollars for one barrel, inflation will come down fr om 9-10% to 6,5-7,5% and the average annual USD exchange rate will fall from 33,9 to 28,3 rubles. These expectations will most likely favorably influence upon the Russian stock exchange.
The end of the last week was rather optimistic. Russian stock exchange indices demonstrated the growth within the lim its of 3-4%. It is very important that the oil prices remain stable – at the level of 74 dollars for one barrel.
In spite of rather unsteady situation in the Russian stock exchange the interest in shares of Bashkir issuers was mainly preserved. Shares of some Bashkir enterprises of fuel-energy complex and Ufa refineries were actively sold out. Unfortunately sales of shares of JSC “BASHKIRNEFTEPRODUCT”, JSC “BASHKIRENERGO”, JSC “UMPO” and JSC “Ufa Refinery” were shutdown. At the same time the transactions with the shares of JSC “BASHINFORMSVYAZ” were resumed. The shares of JSC “BASHNEFT” continue growing up in price and the securities of nearly all Ufa refineries went on cheapening.