10:47Government assistance for pipe producers
The Russian government has adopted a decision to abolish the import duty on steel plate and galvanized rolled iron. In our opinion, this decision will have a negative impact on Russian steelmakers. However, end-product manufacturers, including pipe companies, should benefit from this measure.
10:38Magnit demonstrates steady sales growth in 9M 2008
We are moderately upbeat about the 9M 2008 operating results reported by retail company Magnit. In our view, the high pace of new store openings, especially the hypermarkets, should provide a boost to the company’s full-year results.
10:35Inter RAO UES benefits from growing exports
Inter RAO UES doubled its earnings on electricity exports in 8M 2008 from the year-earlier period, which should benefit its overall revenues and its stock valuations in the short term. The company is Russia’s sole electricity exporter and importer.
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