Bloomberg News

Russia Daybook: Putin on Iran, Infrastructure Bonds, Storchak

February 26, 2012

Prime Minister Vladimir Putin warns against strike on Iran. Finance Minister Anton Siluanov says Russia may sell longer-term bonds to fund infrastructure projects. Deputy Finance Minister Sergei Storchak addresses a debt conference.

ALL TIMES +4 GMT

WHAT TO WATCH: *Putin warned western countries against military action in Iran over that country’s nuclear program, saying “without a doubt” Russia is concerned about the possibility. *Presidential hopeful Gennady Zyuganov of the Communist Party is scheduled to debate a Putin representative on state television at 8 p.m. *Storchak is due to address the annual Bonds & Loans Russia conference at the Ritz hotel after 9 a.m. *Ukraine’s Energy Minister Yuriy Boiko to may discuss negotations with Russia on natural-gas supplies at a conference in Kiev, after President Viktor Yanukovych said he wanted a new agreement. *Russia may use longer-term debt to fund infrastructure projects such as toll roads and high-speed rail links after selling 15-year ruble-denominated bonds last week, Finance Minister Anton Siluanov said in an interview in Mexico City yesterday.

MARKET MOVERS: *OAO Lukoil, Russia’s second-largest oil producer, may be interested in Turkish natural-gas and electricity assets, the Sabah newspaper reported. *Fiat SpA and OAO Sberbank reached an agreement for the production and sale of Jeep models in Russia, the Italian newspaper Corriere della Sera reported. *Sberbank may sell 10 billion rubles of bad debt to collection agencies in the largest sale of its kind in Russia, the Kommersant newspaper reported.

MARKETS: *The 30-stock Micex Index (INDEXCF) gained 3.7 percent to close at 1,594.55, while the dollar-measured RTS Index (RTSI$) gained 5 percent to 1,722.05. *Russia’s benchmark 2018 ruble Eurobond rose, pushing the yield down 2 basis points to 6.96 percent. *The ruble strengthened 1.7 percent to 29.185 per dollar and 0.1 percent to 39.20 per euro. *The MSCI Emerging Markets Index fell 0.4 percent to 1,063.09 at 8:34 a.m. *Crude for April delivery fell 0.4 percent to $109.37 a barrel on the New York Mercantile Exchange. *Brent crude declined 0.5 percent to $124.91 a barrel in London. *Gold for immediate delivery gained 0.2 percent to $1,775.82 an ounce.


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