05 March 2011, Saturday, 11:07

Shares of JSC “BASHKIRENERGO” meet high demand

author: Vladimir Romanov

The oil prices at the New-Year stock exchange (NYSE) are still very high because of the events in some Arab countries, exceeding 112 USD for one barrel – the highest level since October 2008. The index of MICEX varied about the mark at 1750 points. The RTS index started the auctions from the mark at 1930 points. Dollar went down and euro gradually went up relative to Russian ruble.

The main reason of the last oil prices rise is the situation in Libya and it is clear that stabilization of the situation in this oil region will lead to the fall in the stock exchanges. The US billionaire and investor George Soros urged the governments of oil-mining countries to distribute the oil profits among their citizens more fairly. In particular, he stated in his interview to BBC that the riots in Libya were partially provoked by “unthinkable corruption” and unfair distribution of oil dollars. In his opinion the governments of the countries, which possess great hydrocarbon reserves, should be more responsible before their nations. Libya mines out 1,6 million oil barrels daily and considered the 17th biggest oil-producer in the world. “Transparency and responsibility for how the oil reserves are used and how the life of ordinary people become better thanks to these profits” – BBS sites Soros. “Libya has received vast sums of money from oil, which were defalcated by Kaddafi and this is the main reason why the nation rose against this situation” – the billionaire concludes.

At the same time the rise of prices is going on in Russia. The situation in the labor market also looks alarming. The economically active population at the age between 15 and 72 made up 75,3 million people or 53% of the whole population of the country in January 2011, the Federal State Statistics Service reports. 69,6 million people were classified as busy with the economic activity and 5,7 million – as unemployed according to the criteria of the International Labor Organization (i.e. they have neither work nor profitable occupation, search for work and ready to start working any time). The level of population employment (the ratio between the number of people, having jobs, and the overall population) made up 62,8% in January. The level of unemployment (the ratio between the number of unemployed and the economically occupied population) made up 7,6% in January, if compared with 7,2% in December and with 9,2% in January 2010.

The overall number of unemployed, classified by the criteria of the International Labor Organization exceeds the number of unemployed, registered by the state employment centers, 2,5 times. At the end of January 1,609 million people have been registered by these centers as unemployed.

By the end of the last week certain stabilization of oil prices at the mark 115 dollars for barrel started to outline and the stock exchange and the financial world markets immediately reacted upon it. Dollar went on gradually going down relative to Russian ruble and on the contrary euro went up. The RTS index was registered on the level of 2015 and MICEX – 1765 points.

As for the securities of the Bashkir issuers the investors still remain rather passive. The majority of the quotations freeze on the level of the end of December 2010.Only the shares of JSC “BASHKIRENERGO” meet stable demand at MICEX. The price of the last deals with the ordinary shares of this biggest producer of heat and electric energy in Bashkiria made up 48,8 rubles for one share, it dropped by 7,4% as compared with the previous trade week. Not long ago, at the beginning of December the price of these shares reached 68 rubles for one share. Since then it is going down all the time.