Russia 101217 Basic Political Developments

Russian Stocks Gain for 4th Day This Week on Oil, U.S. Economy

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Russian Stocks Gain for 4th Day This Week on Oil, U.S. Economy

By Jason Corcoran

Dec. 17 (Bloomberg) -- Russian stocks advanced for the fourth day this week as oil and metals gained after jobs and housing data in the U.S. bolstered confidence in the global economic recovery.

OAO Raspadskaya, a Russian coal producer, rose 2.1 percent, a day after resuming production at its main mine. OAO Aeroflot, the country’s main airline, added 1.1 percent. Oil producer OAO Rosneft increased 0.4 percent, helping push the Micex Index 0.4 percent higher to 1,666.26 by 11:03 a.m. in Moscow. The gauge has advanced 0.5 percent so far this week.

Oil, Russia’s main export earner, jumped as much as 67 cents to $88.37 a barrel in New York. Copper, lead, nickel and zinc climbed on the London Metal Exchange. Initial jobless claims in the U.S. unexpectedly fell, while other reports showed housing starts increased. The Conference Board may say today its index of U.S. leading indicators rose for a fifth month.

“The price of oil and copper are trading a little better this morning, encouraged by the afternoon rally in Wall Street on the back of the continuing positive economic growth indicators in the U.S. economy,” said Chris Weafer, chief strategist at UralSib Financial Corp. in an e-mailed report.

To contact the reporter on this story: Jason Corcoran at

To contact the editor responsible for this story: Gavin Serkin at

Last Updated: December 17, 2010 03:36 EST

Aeroflot Orders 16 Boeing 777 Jets
17 December 2010

By Roland Oliphant

Aeroflot will buy $4 billion worth of Boeing airliners to expand its long-haul fleet, the airline said Thursday.

The flag carrier confirmed that it has sealed a deal with the U.S. aviation giant for 16 Boeing 777s to be delivered over a six-year period between 2012 and 2017.

Eight 777-200ERs and eight 777-300ERs will be delivered.

The 327-seater 777-200ER is priced at $232.23 million in Boeing’s catalogue, while the 300ER, with 365 seats, has a price tag of $284.1 million. That would put the total value of the deal at $4.13 billion.

A spokesman for Boeing refused to confirm the figure, saying it was against company policy to comment on negotiations with customers. Aeroflot spokespeople were unavailable Thursday.

Both models of the 777 are long-haul aircraft designed for intercontinental flights. They should fill a gap in Aeroflot’s fleet created by repeated delays in delivery of Boeing’s flag ship 787 Dreamliner.

Aeroflot originally ordered 22 of the 290-seat Dreamliners three years ago, but delivery has been repeatedly delayed. The two sides have set up a working group to look for ways to deliver at least two of the Dreamliners before the Sochi Olympics kick off in 2014, Aeroflot said.

Aeroflot is also waiting for its first deliveries of the Sukhoi Superjet, which were expected to arrive in December. The first two of the new medium-haul airliner ordered by Aeroflot are now expected to be delivered in the spring.

Aeroflot has ordered 30 of the new jets. Armenian flag carrier Armavia also has Superjets on order.

At this point Aeroflot may not be in a hurry to receive the 98-seat Superjets, since its flights are scheduled to begin only in March 2011, and the airline does not want to pay leasing fees on idle aircraft, Vedomosti reported.

Meanwhile, India and Russia may sign a contract to jointly produce a fifth-generation fighter aircraft during President Dmitry Medvedev’s visit to India on Dec. 20 to 22. Ashok Nayak, head of India’s Hindustan Aeronautics limited, told RIA-Novosti that the Indian version of the aircraft would cost $295 million, and that a final design should be ready within 18 months. The aircraft will be designed in Russia.

Russian Insurer Sogaz Buys a Blocking stake in Germany’s Sovag

By Jason Corcoran

Dec. 17 (Bloomberg) -- -- Sogaz, Russia’s third-biggest insurer, acquired a 45.9 percent stake in Hamburg-based Schwarzmeer Und Ostsee Versicherungs AG, known Sovag, for an undisclosed amount, according to an emailed statement from the company.

Sogaz bought the stake from Volga Resources, the investment fund headed by businessman Gennady Timchenko, which retains a 54.1 percent stake in the Germany company.

The deal has been approved by the German financial regulator BaFin, the statement said.

To contact the reporter on this story: Jason Corcoran at

To contact the editor responsible for this story: Gavin Serkin at

Last Updated: December 17, 2010 00:39 EST

Sberbank may soon close savings book of Belarus bond applications


17/12/2010 10:53
MOSCOW, December 17 - RIA Novosti. Sberbank has opened on Thursday and hopes to close next week, a book of applications for Belarusian ruble-denominated bonds by 7 billion rubles, said Bella Zlatkis, deputy chairman of Russia's largest bank to journalists on Friday.
Earlier, Sberbank has already collected a book of applications for these securities of 29 investors with a yield of 8.75%, but the Belarusian side to postpone the deployment indefinitely.
"We opened yesterday a book on Belarus - Belarusian leadership has taken such a decision ... the next week expect to close the book ... I think the book will collect, but to gather 29 applications will be difficult," - said Zlatkis.

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