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1202 25March2009 - Uralkali rises on higher output hope
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Russian potash miner Uralkali <URKA.MM> leads fertiliser
producers higher in Moscow on hopes that February's recovery in
output might be extended in the coming months, VTB Capital said.
Uralkali rises 13.3 percent in Moscow at 85.14 roubles,
while peer Silvinit <SILV.MM> is up 4.11 percent at 1,660.02.
"The improvement is very small and the utilisation ratios
still weak. Nevertheless, Brazil has recently joined a small
group of regions still buying potash," VTB Capital said in a
market comment.
"With the first contracts already being delivered in March,
utilisation at Uralkali and Silvinit might increase to 40
percent this month."
melissa.akin.thomsonreuters.com@reuters.net
0938 25March2009 - MOL helps Budapest outperform region
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Shares in Hungarian refiner MOL <MOLB.BU> jump as much as
6.2 percent to 9,785 forints after Deutsche Bank raised its
price target, helping Budapest's BUX index <> outperform
other CEE markets with a 3 percent gain.
Deutsche Bank raised MOL's price target to 17,500 forints
from 13,000.
Traders said the battered Hungarian stocks benefitted from
some bargain hunting helped by improved sentiment on other
markets.
rm://gergely.szakacs.thomsonreuters.com@reuters.net
0938 25March2009 - Rostelekom rises on consolidation bets
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Rostelekom <RTKM.MM> preference shares <RTKM_p.MM> jump 21
percent on rumours the government will seek to boost its stake
in Russia's long-distance phone carrier as it weighs options to
consolidate the state-controlled telecom assets.
Renaissance Capital analysts say the government might not
have enough shares to vote through its plans and might need to
acquire preference shares to boost its influence.
"We think the government or its allies are trying to
increase its share to 75 percent through the purchase of
preferred shares as the free float in commons is limited,"
Renaissance Capital analysts said in a morning note.
The market is also speculating that Rostelekom's preference
shares might receive voting rights, a trader at one Russian
brokerage said.
Communications Minister Igor Shchegolev in an interview with
Vedomosti newspaper reiterates the government's potential
support for a buyout of a 40 percent stake in Rostel from broker
KIT Finance, which is controlled by two state corporations.
rm://polina.vorobieva.thomsonreuters.com@reuters.net
0815 25March2009 - PKN, Lotos gain on reserves news
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PKN Orlen <PKNA.WA> and Lotos <LTOS.WA> gain as much as 3
percent after a daily reported the refiners could receive 5
billion zlotys ($1.5 billion) due to planned changes in rules
for storing strategic fuel reserves. []
"If this were to come true, it would mean a better ability
to forecast the results of the companies and would provide
relief for their working capital," BZ WBK analyst Pawel
Burzynski said.
"The key would be over what period of time the government
would be buying the reserves."
rm://patryk.wasilewski.thomsonreuters.com@reuters.net
