12:00FAS appraises Mechel’s willingness to cooperate
The Russian Federal Antimonopoly Service (FAS) has decided to levy a fine on Mechel and has ordered the company to reduce its coking coal prices. These decisions were predictable, but the size of the penalty was quite small, which we view as a positive driver for Mechel stock valuations given the company’s slackening market cap.
11:13Altaivagon releases positive 1H 2008 financials
Altaivagon’s financial report for 1H 2008 shows an upturn in the company’s revenue and margins due to a strong demand for railway cars, which enabled the company to shift the growing cost of production onto consumers.
11:07TGK-14 may close the year in the red
The projections made by TGK-14 management that the genco will be at a loss in FY 2008 are caused by objective reasons and are not likely to have any impact on the company's stock valuations, which are maintained at their current level due to an expected buyout offer.
08/19/2008Novoship releases 6M 2008 consolidated IFRS financials
In 6M 2008, Novoship showed an upturn in its key financial indicators thanks to a favorable industry environment. We are generally positive above the company's financial results; however, the limited free-float of common shares and the low dividends on preferred shares could remain powerful deterrents for the growth of the company's market cap.
Novoship Common shares:
Price: $3,18 Preferred shares:
Price: $0,85
08/19/2008Magnit posts 7M 2008 operating results: in line with expectations
We are neutral on Magnit's 7M 2009 operating results and believe they will not produce any significant impact on the company's stock valuations. As for today, the most significant events for the retail chain will be the publication of the company's 1H 2008 financial report and possible decisions as regards the industry's regulation by the state.
08/18/2008Offer to TGK-8 minority shareholders prolonged
Lukoil-Volgogradneftepererabotka has prolonged the validity period of its buyout offer to TGK-8 minority shareholders until September 9, 2008, inclusive. We recommend that investors accept the offer.
08/15/2008Buyout offer to TGK-8 shareholders soon to expire
The obligatory buyout offer from LUKOIL to TGK-8 minority shareholders expires on August 15, 2008. Investors are advised to take advantage of this offer.
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