Russia 111130 Basic Political Developments
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- Sberbank Earnings
- UPDATE 1-Sberbanks Q3 net profit $2.55 bln, beats forecast
- Sberbank May Buy Lukoil’s Swiss Banking Unit, Kommersant Says
MTS OutlookMTS’ American depositary receipts advanced to $16.27 by the close of trading in New York, leading gainers on the Bloomberg Russia-US 14, while VimpelCom, a telecom provider formed last year after shareholders Telenor ASA (TEL) and Alfa Group combined their Russian and Ukrainian wireless holdings, rose to $11.38. Fitch Ratings cut MTS’ outlook to “stable” from “positive” yesterday, citing risks associated with holding company AFK Sistema, which has a 51.2 percent stake in the mobile-phone operator. “On a stand-alone basis, MTS’s credit profile continues to conform to low investment grade,” Fitch’s analysts led by Moscow-based Nikolai Lukashevich wrote in an e- mailed report. MTS stock in Moscow slid 1.6 percent to 205.48 rubles, or the equivalent of $6.57. One ADR represents two ordinary shares.
Bank of America Corp., Goldman Sachs Group Inc. and Citigroup Inc. had long-term credit grades reduced to A- from A by Standard & Poor’s after the ratings firm revised criteria for dozens of the largest global lenders. S&P made the same cut to Morgan Stanley and Bank of America’s Merrill Lynch unit. JPMorgan Chase & Co. was reduced one level to A from A+. Yandex NV, operator of Russia’s most popular Internet search engine, gained 2.6 percent to $21.54, the highest level since Nov. 18, as Renaissance Capital analysts David Ferguson and Anastasia Demidova in Moscow said that the company’s market share has stabilized at above 60 percent after plunging in August and September, according to LiveInternet data. Oil Prices Oil rose for a third day in New York after U.S. consumer confidence climbed by the most in more than eight years, boosting the outlook for energy demand in the world’s biggest economy. Reports Iranian protesters broke into and vandalized the British Embassy’s compound in Tehran also bolstered prices for Russia’s biggest export earner. Crude for January delivery dropped 0.5 percent to $99.25 a barrel on the New York Mercantile Exchange in after-hours trading following a three-day, 3.8 percent jump. Brent oil for January settlement added 1.7 percent to $110.82 on the London- based ICE Futures Europe exchange. Urals crude, Russia’s chief export blend, climbed 1.9 percent to $110.84. Oil and natural gas contribute about 17 percent of Russia’s economy. The Micex has lost 14 percent in 2011 and trades at 5.1 times analysts’ earnings estimates for member companies. That compares with the 20 percent slide for Brazil’s Bovespa (IBOV) index, which trades at 10 times estimated earnings, according to data compiled by Bloomberg. The Shanghai Composite Index (SHCOMP) trades at 11 times, and the BSE India Sensitive Index (SENSEX) has a ratio of 14. To contact the reporters on this story: Leon Lazaroff in New York at llazaroff@bloomberg.net, or Halia Pavliva in New York at hpavliva@bloomberg.net To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net
* Posts Q3 net profit of 79.6 bln rbs vs 75.7 bln forecast * Says loans picked up in volume and quality * Net margin increased in both Q2 and Q3 * Shares down 0.25 pct, in line with market (Adds company comment, detail, share price) MOSCOW, Nov 30 (Reuters) - Russian state lender Sberbank said on Wednesday its third-quarter net profit increased 76 percent to 79.7 billion roubles ($2.55 billion), beating analyst forecasts, on the back of a growing loan portfolio and margins. Analysts had expected an increase in third-quarter profit to 75.7 billion roubles, up from 45.3 billion roubles a year ago. The company said demand for loans picked up throughout the first nine months of the year, with the overall portfolio up 18.1 percent year-on-year in the January-September period. "The group is also benefiting from an increasing share of retail loans which are growing faster than corporate ones," the company said in a statement. Loans are also increasing in quality, the bank said, due to an improving Russian economy and tougher risk management. It added that net interest margin had increased slightly in both the second and third quarters, driven by interest-earning assets and lower costs. Sberbank shares were trading 0.25 percent lower at 0611 GMT, in line with the overall Moscow market MICEX. The bank's shares are down 21 percent in 2011, almost wiping out a 24.5 percent gain the previous year. Russia wants to sell a 7.6 percent stake in Sberbank on public markets, but postponed the offering earlier this year due to turbulent market conditions. The deal, which would reduce the state's controlling stake to a fraction over 50 percent, would raise around $4.5 billion at current prices. Net profit in the first nine months rose to 255.8 billion roubles, up from 109.6 billion roubles in 2010. Earlier on Wednesday, Kommersant newspaper reported that Sberbank is in negotiations to buy SLB bank, oil giant Lukoil's banking subsidiary in Switzerland. ($1 = 31.2327 Russian roubles) (Reporting by John Bowker and Andrey Ostroukh; Editing by Lidia Kelly) Sberbank May Buy Lukoil’s Swiss Banking Unit, Kommersant Sayshttp://www.bloomberg.com/news/2011-11-30/sberbank-may-buy-lukoil-s-swiss-banking-unit-kommersant-says.html By Stephen Bierman - Nov 30, 2011 5:56 AM GMT+0100 OAO Sberbank, Russia’s largest bank, is in talks with OAO Lukoil to buy the Russian oil producer’s Swiss bank, SLB Commercial Bank AG, Kommersant said, citing unidentified bankers. The transaction would require the approval of Swiss regulators, Kommersant said. To contact the reporter on this story: Stephen Bierman in Moscow sbierman1@bloomberg.net. To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net.
Directory: gifiles -> attach attach -> British Forces – Akrioti, Greece Griffin Fighter Squadron (84 Squadron raf) MoD announced possible Typhoon and Tornado arrivals to the base France attach -> Russia 110204 Basic Political Developments attach -> Unclassified//for official use only attach -> Adaptability Sustainment attach -> Pop-up 1 ("C" Chechnya) Header Text: Emir of the Caucasus Emirate Doku Umarov Image attach -> Russia and Islam are not Separate attach -> Chapter 13: The Northern Caucasus attach -> Russia 100209 Basic Political Developments attach -> The evolution attach -> The devolution Download 317.41 Kb. Share with your friends:
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