12/30/2008Dixy Group opens more than a hundred stores in 2008
Dixy Group has reported its performance for FY 2008, which we regard as positive. The operating results largely coincided with the earlier voiced management targets, and, in our view, are unlikely to exert a tangible impact on the company’s stock valuations.
12/30/2008Scale of aid for power utilities disclosed
The disclosure of details about the amount of financial aid asked for by state power utilities is a positive event, which may benefit the stock valuations of the main recipients of this aid.
12/29/2008OGK-6 releases IFRS financials for 9M 2008
The OGK-6 generation company has released financials audited to IFRS for 9M 2008, which we regard as moderately negative. In our view, the published financials will have a limited impact on quotes for company shares.
12/29/2008Mosenergo publishes IFRS finances for 9M 2008
Mosenergo has published financials calculated to IFRS for 9M 2008, which we view as moderately positive. In our opinion, the published results will not have a tangible impact on the company’s stock valuations.
12/29/2008Uralkali + Silvinit + Apatit = new state holding?
Prospects for the establishment of a new state holding company out of Uralkali, Silvinit and Apatit are doubtful, all the more since this information has not yet been officially confirmed. If the merger eventually goes ahead, it may have an adverse impact on the operating and financial results of all the companies involved in the deal.
12/29/2008State tightens grip on Norilsk Nickel
With the current composition of the Norilsk Nickel board of directors, Potanin’s faction has retained numerical superiority, having secured at least six allies at the table. However, the promotion of Voloshin as the board’s chairman is an indicator that the state is tightening its grip on the company, which may play into the hands of its minority shareholders during the global crisis.
12/29/2008Government set to repeal export duties on nickel and copper
The possible cancellation of export duties on nickel and copper may be beneficial for the leading domestic producers of these metals, first and foremost Norilsk Nickel.
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