27 February 2010, Saturday, 15:31

Stock market is rolling down

author: Ravil Ramazanov

The week started under very high oil prices – more than 78 dollars for one barrel and this factor fully dictated the situation in the Russian stock market. On the first day of the week the indices of both RTS and MICEX have grown up by 1,5%.

But after that rather disappointing news started to arrive. It is known that Russian economics has suffered most of all among other big countries the last crisis year. After the 5,6%-growth in 2008 the next fall made 7,9% according to the preliminary statistical data. Inflation in Russia was also the highest – about 8,8%. After the meeting, held by V. Putin at Sayano-Shushenskaya hydroelectric station last Wednesday, the quotations of several energy companies dropped. As it is known the Premier has blamed the companies for squandering of the budget means, meant for the struggle with the crisis.

In a whole stable fall of Russian stock indices went on during the whole week. Every day the RTS and MICEX indices lost 1,5-2%, though there were no evident grounds for that and oil prices were standing more than 76 dollars for one barrel. As a result the RTS index dropped to 1390 and MICEX index- — to 1324 points, thus burning all high hopes.

At the end of the last week the interest in the shares of Bashkir issuers wasn’t high. The shares of some fuel-energy complex enterprises and Ufa refineries were sold out rather well but in a whole these enterprises lost their positions.  Thus, sales of shares of JSC “BASHKIRNEFTEPRODUCT” and JSC “UMPO” were stopped at RTS. Shares of JSC “BASHINFORMSVYAZ”, JSC “BASHKIRENERGO”, JSC “Soda”, JSC “URALSIB”, JSC “UFANEFTEHIM” and JSC “Beloretsky metallurgical plant” faced no demand at all at RTS. At the same time the shares of JSC “BASHNEFT” were steadily rising in price.

Several transactions with the ordinary shares of the oil company “BASHNERFT” at the price 27,5 USD per one share were registered – for one week the cost of these shares grew up by 2%. The privileged shares were sold out at 15,8 dollars per one share (+5%).

Ordinary shares of JSC “NOVOIL” were sold out at 0,9 dollars per one piece (+4%). The privileged shares of this enterprise faced no demand this time.

The cost of ordinary shares of JSC “UFAORGSINTEZ” grew up by almost 3% up to 4 dollars per one share. Several big transactions were registered with the ordinary shares of JSC “Ufa Refinery” at 0,95 dollars, but their price dropped by 4%. The privileged shares of this issuer faced zero demand.

The activity at MICEX was also rather high last week. But the majority of the shares went down in price. Thus, ordinary shares of JSC “BASHINFORMSVYAZ” of “A” type were sold out at 4,399 rubles per one piece and one week before their cost had been much higher than 4,899 rubles. The shares of the same company of “B” type were offered at 4,15 rubles for one share. For one week the cost dropped by 3%.