Bloomberg News

RUSSIA DAYBOOK: Oil Funds, Manufacturing, Severstal, ChelPipe

May 03, 2011

OAO Severstal closes U.S. plant after severe storms cut power. Russia’s Finance Ministry plans to publish monthly data on the National Wellbeing and Reserve funds, made up of windfall oil revenue. Russian manufacturing growth slows to five-month low. ChelPipe may decide to sell shares after meeting with investors.

ALL TIMES +4 GMT

WHAT TO WATCH: *The Finance Ministry plans to release monthly data on the National Wellbeing and Reserve funds after 9 a.m. *Russian manufacturing growth slowed to five-month low in April, HSBC’s PMI survey showed today. *ChelPipe may announce share sale after meeting with investors.

EQUITY MOVERS: *OAO Rosneft and OAO Lukoil, Russia’s biggest oil producers, may move after Brent prices fell the most in seven weeks on the killing of al-Qaeda leader Osama bin Laden. *OAO Severstal, Russia’s largest steelmaker, was forced to close a plant in the U.S. state of Mississippi after severe storms.

MARKETS: *The Micex Index (INDEXCF) fell 0.5 percent to 1,741.84 on April 29. *The dollar-denominated RTS Index (RTSI$) dropped 0.1 percent to 2,026.94 April 29. *Russia’s benchmark 2018 ruble Eurobond fell 0.3 percent, boosting the yield 6 basis points to 6.689 percent on April 28. *The ruble strengthened 0.6 percent to 27.3575 per dollar and 0.3 percent to 40.6300 per euro. *The MSCI (MXEF) Emerging Markets Index fell 0.7 percent to 1,197.87 at 08:57 a.m. *Crude for June delivery fell 0.5 percent to $112.99 a barrel on the New York Mercantile Exchange at 9 a.m. *Brent crude fell 0.4 percent to $124.67 at 8:46 a.m. *Gold for immediate delivery rose 0.3 percent to $1,549.55 an ounce at 8:59 a.m.

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.


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