After today’s opening of trading on the Moscow Exchange, Mechel’s preferred shares collapsed by about 33% to reach 143.25 rubles per security (yesterday the maximum value of the pref reached 223.25 rubles per unit). Ordinary shares of Mechel also fell to 120.05 rubles per security (approximately by 7.5%), according to trading data. The negative dynamics […]

Gazprom presented the results of gas production and supplies for January-May this year. According to preliminary estimates, gas production decreased by 4.8% to 211.4 billion cubic meters. This is 10.6 billion cubic meters less than in the same period of 2021, follows from the company’s information. Gazprom notes that this May has become the coldest […]

The volume of housing construction in Russia in April 2022 amounted to 8.3 million square meters, increasing by 38.3% compared to April 2021, follows from the data of the Federal State Statistics Service of the Russian Federation (Rosstat). As reported, in January 2022, 10.3 million square meters of housing was commissioned, which is 1.8 times […]

Oil prices are falling on Thursday on information from the Financial Times newspaper about Saudi Arabia’s readiness to increase production in case of a significant drop in oil production in Russia due to sanctions. “Saudi Arabia is aware of the risks and realizes it is not in its interest to lose control of oil prices,” […]

Production of passenger cars in the Russian Federation in April 2022 collapsed 6.8 times (by 85.4%) compared to April last year to a record low of 19.9 thousand cars, follows from the data of the Federal State Statistics Service of the Russian Federation (Rosstat). Thus, the figure fell below the level of covid April 2020, […]

The decline in Russia’s GDP in April 2022, according to the Ministry of Economic Development, amounted to 3.0% year-on-year after growth of 1.3% in March, 4.1% in February and 5.6% in January. This is stated in the Ministry’s review “On the current situation in the economy”. Growth of the Russian economy at the end of […]

International rating agency Fitch has affirmed China’s long-term foreign currency Issuer Default Rating (IDR) at ‘A+’ with a ‘stable’ outlook. “China’s ratings are supported by the country’s strong external financial position, the sustainability of its macroeconomic performance, and the size of its economy, which is the second largest in the world,” Fitch said in a […]

Economic activity continued to expand in all twelve U.S. counties between mid-April and the end of May, but the pace of growth was mostly slight or modest, according to a regional survey published by the Federal Reserve System (Fed), which is called the Beige Book by the color of the cover. Only four Federal Reserve […]

Biden called the purchase of oil from Russia at reduced prices an alternative to the embargo, and Saudi Arabia outlined one condition for increasing oil production – these and other important news for Thursday morning, June 2, in our daily review. U.S. President Joe Biden said that it is possible to continue buying Russian oil, […]

The Russian stock market started trading in a slight downward trend in the framework of profit taking by players on the background of deterioration of the external stock and oil conjuncture. In the U.S. stock indices on the eve declined by 0.5-0.8% on fears of tightening of MPC by the Federal Reserve. A negative factor […]

The misery of high oil prices is being felt around the world, and as has often been the case before, it seems that the only cure for high prices is…. high prices. At least in nominal terms, gasoline prices are at record highs. Meanwhile, the price of crude oil hit $120 a barrel on Monday. […]

St. Louis Federal Reserve Bank (FRB) Chairman James Ballard urged his colleagues at the U.S. Federal Reserve (Fed) to raise interest rates to 3.5 percent this year to slow the pace of inflation near a four-decade high. He noted, however, that the rate could be lowered again late next year or in 2024. Ballard is […]

The Russian Ministry of Finance is ready to settle claims regarding the completeness of debt obligations fulfillment on Russia-2022 Eurobonds, RBC reports citing the press service of the ministry. The Credit Derivatives Committee earlier recognized the non-payment of additional interest of $1.9 million on Russian Eurobonds maturing in 2022. A number of owners of external […]

The U.S. Department of Commerce has released a list of 71 entities from Russia and Belarus subject to U.S. export restrictions. A document published in the Federal Register states that the U.S. Department of Commerce is amending the U.S. Export Administration Regulations (EAR), adding 71 entities to the list of organizations subject to trade restrictions. […]

During today’s trading, the dollar exchange rate against major world currencies is generally stable after a sharp decline the day before, caused by uncertainty about the further plans of the Federal Reserve System (FRS). The index calculated by ICE, which shows the dynamics of the dollar against six currencies (euro, Swiss franc, yen, Canadian dollar, […]

Rates on 30-year mortgages in the U.S. fell by 1 basis point in the week ended June 2. At the same time, the decrease was observed for the third week in a row, according to data from the state mortgage corporation Freddie Mac. The average interest rate on a 30-year mortgage fell to 5.09% in […]

The CEO of electric car maker Tesla Inc, Ilon Musk, said on Thursday that Tesla’s Artificial Intelligence Day (AI Day) has been moved to September 30, Reuters writes. “Tesla’s AI Day has been moved to September 30 as we may have an Optimus prototype by then,” he wrote on Twitter. Recall that the Tesla Bot, […]

Russian citizens will be exempt from personal income tax when selling gold in bullion, and experts predicted a slowdown in GDP growth by 1-1.5% per year due to sanctions – these and other important news for Friday morning, June 3, in our daily review. The Russian government has approved the Finance Ministry’s proposal to exempt […]