Russia 101202 Basic Political Developments

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Gazprom, Rosneft, VimpelCom, VTB Group: Russian Equity Preview
Jan-Sept gold production down 3.2% in Russia

Business, Energy or Environmental regulations or discussions

Russian markets -- Factors to Watch on Dec 2

http://af.reuters.com/article/metalsNews/idAFLDE6B101R20101202
Thu Dec 2, 2010 7:27am GMT

MOSCOW, Dec 2 (Reuters) - Here are events and news stories

that could move Russian markets on Thursday.

You can reach us on: +7 495 775 1242

STOCKS CALL (Contributions to moscow.newsroom@reuters.com):

OTP Bank: The oil and gas sector were the growth leaders

among blue chips yesterday -- Gazprom's stocks rose 4.76

percent. and LUKOIL's just slightly less, 3.17 percent. The

MICEX index rose 2.81 percent to 1,601.76. A positive

background is being formed now, and today we expect the market

to open around the level it closed at during yesterday's

session.

EVENTS [RU-DIA] (All times GMT):

MOSCOW - Russia's Natural Resource Ministry to decide on

outcome of Trebs and Titov Arctic oilfields, the country's last

big non-allotted crude deposits.

MOSCOW - Russia's Norilsk Nickel (GMKN.MM), the world's

largest nickel and palladium producer, to decide on the sale of

Russian power generator OGK-3 (OGKC.MM) at a board meeting.

IN THE PAPERS [PRESS/RU]:

In an interview with Vedomosti, Sberbank (SBER03.MM) CEO

German Gref said the Russian lender would need until 2018 to

become competitive with major international banks. He also said

that the economy is still in a "fierce" crisis, manifest in the

growing debt levels in the private sector and the persisting

refinancing of companies.

TOP STORIES IN RUSSIA AND THE CIS [RU-NEWS]:

Gazprom, Rosneft, VimpelCom, VTB Group: Russian Equity Preview

http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=aRSXUVR__KRY

By Ilya Arkhipov

Dec. 2 (Bloomberg) -- The following companies may be active in Russian trading in Moscow. Stock symbols are in parentheses and share prices are from the previous close of trading.

Russia’s 30-stock Micex Index advanced 2.3 percent to 1,601.76. The dollar-denominated RTS Index gained 2.2 percent to 1,632.96.

OAO Gazprom (GAZP RX): The world’s biggest gas producer agreed to form two joint ventures with NAK Naftogaz Ukrainy to produce gas at coal formations in Ukraine and to develop the offshore Pallas structure in the Black Sea. Gazprom’s shares gained 4.7 percent to 182.67 rubles in Moscow.

OAO Rosneft (ROSN RX): Crude oil climbed after Chinese manufacturing expanded and on speculation the European Central Bank will act to prevent the spread of the region’s debt crisis. Shares in Russia’s largest oil company gained 2 percent to 212.44 rubles.

VimpelCom Ltd. (VIP US): The owner of Russia’s second- biggest mobile-phone operator is expected to announce third- quarter operating and financial results today. The shares declined 1.7 percent to $15.41 at 1:54 p.m. in New York.

VTB Group (VTBR RX): The country’s second biggest lender is scheduled to report third-quarter financial results today. Bank rose 1.8 percent to 10.2 kopeks in Moscow.

To contact the reporter on this story: Ilya Arkhipov at iarkhipov@bloomberg.net.

To contact the editor responsible for this story: Willy Morris in London at wmorris@bloomberg.net.

Last Updated: December 1, 2010 18:00 EST

ecember 02, 2010 11:10

Jan-Sept gold production down 3.2% in Russia

http://www.interfax.com/newsinf.asp?id=206144

MOSCOW. Dec 2 (Interfax) - Russia mined 3.2% less gold year-on-year in January-October, producing 147,181 tonnes during the period, the country's Gold Producers Union said.

Overall gold production - including secondary and associated production - came to 168,449 tonnes for the ten-month period, 1.6% less year-on-year.

Cf

Golden moment: Russian gold miners set to benefit

http://www.bne.eu/dispatch_text13802

UralSib
December 2, 2010

Gold price has room for further growth. We reiterate our positive outlook on gold and the gold mining industry due to an increasing global shift to gold as a safe haven. Although the active phase of the global fi- nancial crisis is over, investors are still concerned about the fate of the dollar as a major reserve currency and increasing inflationary risks, and are looking for an ultimate store of value, which gold is. We believe that this process is far from over and that the gold price has not yet reached its peak. Gold-price growth will be intensified further by the limited gold supply from mines and active buying by emerging market central banks, as well as by sustainably strong investment demand and recovering jew- ellery demand from China and India. We expect an average gold price of $1,450/oz in 2011 and $1,500/oz in 2012.

Our top sector picks: the three Ps. Among Russian gold stocks, we have Buy recommendations on Polyus Gold (PLZL LI - Buy, $86/share target price or $43/ADR), as the name is set to benefit from rising output and improving costs next year; Petropav- lovsk (POG LN - Buy, $22/share target), which disappointed this year, but has a more achievable and less risky production plan for 2011 compared to the challenging 2010; and Polymetal which we upgraded from Hold to a Buy (PMTL LI - Buy, $20/share target), given its growth momentum in 2011E and strong silver prices. We remain cautious and have a Hold recommendation on Highland Gold (HGM LI - Hold, $3.2/share target) due to its uncertain long-term prospects, while we have withdrawn our rec- ommendation and target price for KazakhGold, as its share price currently has nothing to do with its fundamentals, but rather with the ongoing shareholder conflict. We initiated coverage on High River Gold (HRG CN) with $1.4/share target price and Hold rating due to the expected absence of output growth.

11:19

Former Luzhkov press secretary Tsoi becomes new RusHydro exec

http://www.interfax.com/news.asp

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