Market News | Company News - Press Reviews Before Market Opening

Closed to the collapse. Russian assets collapsed without Russian bidding

Failure of basicoil producers - Russia and Saudi Arabia- to agree on an extension and additional restriction of production turned into a collapse in the oil market. Brent quotes fell by more than 30%, dropping to a four-year low of $ 31 per barrel. The oil-dependent ruble and Russian securities also collapsed on world markets in the absence of trading on the Moscow Exchange on March 9. According to market participants, to stabilize the situation, the Bank of Russia may need to raise its key rate.

https://www.kommersant.ru/doc/4283289

 

Moscow Exchange is preparing for increased volatility at the opening of trading

Moscow Exchangepreparing for increased volatility withtrading opens on Tuesday, March 10. This is stated in a message from the exchange's press center. It notes that the exchange is closely monitoring the development of the situation on global trading platforms and will increase collateral rates on a number of instruments. For the most liquid assets at the start of trading, expanded boundaries of price corridors will be additionally established.

https://www.vedomosti.ru/business/news/2020/03/10/824771-mosbirzha

 

Bloomberg learns about Rosneft’s plans to boost production after breaking OPEC deal

State Corporation "Rosneft»Plans to increase oil production after the gapdeals with the organization of OPEC exporting countries, Bloomberg reports citing sources close to the company. According to them, Rosneft will begin to increase the pace of production from April 1, when the current transaction with OPEC, which limits production, ceases to operate. Within two weeks, the state corporation is expected to increase production by 300,000 barrels per day.

https://www.vedomosti.ru/business/news/2020/03/09/824742-bloomberg-uznal-o-planah-rosnefti-narastit-dobichu-posle-opek

 

Moscow Exchange collects currency. An OTC platform will be connected to trading

Moscow Exchangeintends to acquire an over-the-counter platform fortrading in NTPro currency, which market participants associate with Alfa Bank. The transaction amount is estimated at $10–20 million. The volume of exchange trading in currencies has been falling for the second year in a row, the exchange is trying to cover the over-the-counter market with additional services within its system, experts point out.

https://www.kommersant.ru/doc/4283287

 

Tinkoff’s diagnosis should not affect his bank

FounderTinkoff Bank»Oleg Tinkov announced that he is sick with leukemia. "In recent days, I did not appear in public, which caused some questions and speculation, especially in light of the ongoing lawsuit [with the US Justice Department]," the businessman said in a statement released on Friday, March 6. “And although I did not want to disclose the details for a long time, it seems that the time has come to report: I have been diagnosed with an acute form of leukemia.” The bank has long been managed by professional managers, it was they who made Tinkoff what it is, said Aton analyst Mikhail Ganelin. This is a very large player, the bank has already reached the scale where it does not depend on one person, and the market reaction is rather emotional, he explains.

https://www.vedomosti.ru/finance/articles/2020/03/09/824762-diagnoz-tinkova

 

Funds shortened their portfolios. NPFs prefer to invest in short bonds

Duration of bond portfolios (effective term up totheir repayment) of non-state pension funds (NPFs) is not growing, contrary to expectations in the Central Bank. According to the regulator, this should have been facilitated by the introduction of a fixed part of remuneration for pension savings and by the provision of the possibility for NPFs to form a portfolio before maturity. The Bank of Russia associates such dynamics with the lack of a large supply of long bonds. NPFs say that investing in long-term bonds in the volatile Russian market is too risky.

https://www.kommersant.ru/doc/4283288

 

Abramovich, Abyzov and Gutseriev turned out to be investors of the Durov project

Former Minister for Opengovernment, Mikhail Abyzov invested in Pavel Durov’s blockchain platform Telegram Open Network (TON), follows from the materials of the American Securities and Exchange Commission (SEC). Abyzov conducted the operation through the Batios Holdings Limited fund, investing $20 million. The ex-minister has been in jail since March 2019. Also, according to the SEC, billionaires Roman Abramovich ($10 million through the Norma Investments Limited fund) and Mikhail Gutseriev ($15 million through Larnabel Ventures), as well as the CEO of the German payment system Wirecard Jan Marcelek ($7 million), invested in Durov’s project.

https://www.vedomosti.ru/technology/articles/2020/03/05/824525-i