13:01NorNickel: corporate conflict continues
On August 7, NorNickel majority shareholders accused each other of undesirable actions that impair the company's market value. Rusal remarked on the inefficiency of NorNickel's management. Interros, in turn, said that Onexim and Rusal had reduced the company's market cap and thus manipulated the market. In our opinion, the ongoing conflict between the nickel giant's majority shareholders boosts the volatility of NorNickel shares and impairs the holding's investment attractiveness. However, the decrease in the company's business, which suffers from a downturn in prices on the nonferrous metals market, remains the main downside driver for NorNickel's fundamental value.
NorNickel Common shares:
Price: $71,97 Common shares:
Price: $71,97
11:02Veropharm sums up its operations in 1H 2008
We estimate Veropharm's preliminary operating results for 1H 2008 as positive and believe they may lend support to its stock valuations in the near term.
10:56Yenisei TGK upgrades capacity
The Yenisei TGK generating company and Power Machines, a turbine equipment maker, have signed a deal on revamping the PT-80 turbine at the Minusinskaya thermal power plant on a turn-key basis. The agreement will allow the genco to fulfill its investment program on schedule and upgrade its production capacity.
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