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Updated: Aug 28, 2008 18:58         CY  
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Research Notes




 

Gas distribution industry consolidation: Hedging opportunities

05/12/2008 11:44

After the publication of the valuations for the state share packages in gas distribution companies before their handover to Rosneftegaz, market quotes for most regional gas distribution companies moved towards the Federal Property Management Agency’s (Rosimushestvo) valuations. Nonetheless, the existing uncertainty over Gazprom’s potential offer is an additional risk for investors, and should be factored in. The mixed valuations of regional gas distribution companies could mean excellant hedging opportunities.

Vladimir Sergievskiy

* Short overviews of equity research reports and sector reports are posted on the website http://www.finamrus.com with a 1-day delay after their full versions are emailed to the company’s clients. To get overviews on the day of their release, please contact your manager at Finam to sign up for full versions of research reports.

Sector: O&G
Company: Gazprom

All Research Notes >>

 



Finam Mutual funds  

First   Bonds
MICEX Index   Low Liquidity Shares
Finam Mutual Funds

   Top Gainers
 Voronezh Energo 3.88834.07 %
 CMT 1316.04 %
 VHZ 174.9915.04 %
 DalSvyaz 67.9912.29 %
 Yaroslavich KB 40512.19 %
   Top Losers
 Yaroslav. Sbyt. 11.862-34.10 %
 Yaroslav. Sbyt. 16.599-26.39 %
 Tambov EnergoSb 0.121-14.79 %
 Rostovenergosby 0.099-13.91 %
 MRSK Severo-Zap 0.1899-13.52 %

Russian Stock Indices
 RTS 1,653.994.09%18:00
 MICEX10INDEX 2,308.524.977%17:44
 MICEXINDEXCF 1,365.294.814%17:44
Finam Indices
 i.LKOH 76.6977.192%17:44
 i.RTKM 11.54390.965%17:44
 i.SNGS 0.72556.022%17:44
 i.SBER 2.42416.083%17:44
 i.GMKN 200.67812.244%17:44
 i.TATN 5.18254.158%17:44
 i.MSNG 0.10164.947%17:44
 i.GAZP 9.91754.531%17:44
 i.ROSN 8.40766.492%17:44
 i.PLZL 32.03011.582%17:44
 i.AVAZ 0.802812.118%17:44
 i.VTBR 0.00285.224%17:44
ADR (London)
 Gazprom 9.88253.617%18:40
 Lukoil 76.56.993%18:40
 Rostelekom 11.46667-0.578%18:40
 Tatneft 5.1-1.687%18:40
 Norilsk nikel 200.91.209%18:40
 Surgutneftegaz 0.7162.286%18:40
 AFKS 1,267.57.872%18:40
 Rosneft 8.46.464%18:40
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