17 April 2011, Sunday, 11:21

Shares of “BASHKIRENERGO” still meet high demand

author: Vladimir Romanov

As before, the last week started under high oil prices. The oil price at NUSE has exceeded 125 dollars for one barrel by the beginning of Monday, but certain tendency to price-cutting could be noticed thanks to financial support of Portugal by EU and the certain hopes on regulation of the political situation in Libya and Yemen.

The MICEX and RTS indices started the week with the very high results – 1845 and 2113 points correspondingly. US dollar was weakening with respect to Russian ruble and on the contrary euro was steadily going up. On Tuesday the rate of the American currency has dropped lower than 28 rubles, thus reaching the level of December 2008.

The results of the Russian reforms have been published. For 20 years of economic reforms in Russia the level of real incomes of 20% of the poorest Russians has dropped 1,45 times and of other 20% — 1,2 times, as it was reported on the site of the Russian Higher Economic School.

Other 20% of Russians have failed to feel real changes, as compared with 1988 – their levels remained on the same level. The level of 20% of the richest Russians has raised two times and of other 20% — by one fourth.

All abovementioned means that for the last 20 years the stratification among population has substantially increased and at that it was running eight times faster than in Hungary and five times faster than in Czechia (similar processes were occurring in both these countries).

According to information of the Russian State Statistics Committee the number of Russians with the incomes lower than the subsistence wage hasn’t changed in 2010 as compared with 2009: 18,5 million Russians or about 13% of population are still found behind the poverty line. The independent experts believe that further decrease of poverty will go on very slowly after its two-time reduction for the last decade. In spite of high poverty level the World Bank considers Russia one of the countries with the population incomes higher than the average level. But Russia looks unfavorably on the background of the developed countries. According to various estimations 80% of Russians can’t relate themselves to the middle class.

The last week has finished under rather high indices in the stock exchange market, though it has lost more than 5%. The MICEX index stopped on the level of 1780 points and RTS index – on 2030 points.

The investors are still rather passive with respect to the securities of the Bashkir issuers. The majority of the quotations still “froze” on the level of the end of December 2010. Only the shares of JSC “BASHKIRENERGO” were meeting high demand during the whole last week. The price of the last deal with this issuer’s ordinary shares made up 48,1 rubles for one share (- 5,7%). The amount of the last deal made up 3700 shares and the deals’ sum exceeded 178 thousand rubles.