| Date | Event | Analyst forecasts and comments |
|---|
| | Financial sector | |
|
from 01.07.2009 to 15.07.2009
|
Sberbank to release 1Q 09 IFRS report. |
In our opinion, Sberbank will be able to maintain a low volume of NPLs, compared with the banking sector as a whole. However, to counter any sharp upturn in NPLs, the bank will have to accumulate even larger reserves, which could negatively affect its net profit. |
| | Metals | |
|
from 01.07.2009 to 20.07.2009
|
Polyus Gold is to publish operating results for 1H 2009. |
The company’s 1H 2009 production may exceed its year-earlier results, due to the start of production at the Titimukhta deposit. The company aims to extract around 100,000 ounces of gold from the deposit in 2009 and bring its total annual gold output to roughly 1.3 million ounces. |
| | O&G | |
|
07.07.2009
|
Last day for Ukraine to pay Gazprom for June supplies.
|
There is still a strong likelihood that Naftogaz of Ukraine will be unable to pay Gazprom for gas supplied in June. Although loan talks are ongoing between Europe and Ukraine, we do not rule out that Russia and its southern neighbor may experience a new gas conflict.
|
|
09.07.2009
|
Court hearing over Bashneft’s lawsuit against International Industrial Bank.
|
Bashneft has filed a lawsuit against the International Industrial Bank (IIB): following an audit carried out by Bashneft’s new management, it was revealed that the IIB owes the oil company USD 45.64 million. The company is set to recover the money from the IIB at court. In our opinion, Bashneft is likely to win the case.
|
|
07.08.2009
|
NOVATEK to hold EGM.
|
NOVATEK shareholders are to consider several related party transactions concerning the conclusion of loan and credit-line agreements. July 2 is the cutoff date. These transactions are important for NOVATEK’s LNG projects in the Yamal peninsula.
|
| | Power Utilities | |
|
14.07.2009
|
TGK-8 to hold an EGM to consider reorganization of the company into a limited liability company.
|
Lukoil, the majority shareholder, has already announced a forced buyout of shares from TGK-8 minority shareholders. The adoption of a decision on the genco’s reorganization
would mark the completion of the procedure to transfer control of TGK-8 to Lukoil.
|
|
from 01.08.2009 to 31.08.2009
|
RusHydro to launch ADR program.
|
RusHydro is expected to launch an ADR program in the middle of August. GDRs are to circulate on US OTC market.
The program aims to improve access to RusHydro shares for a wide range of investors and boost stock liquidity.
|
44.8
1.09
