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1202 25March2009
Uralkali rises on higher output hope
Russian potash miner Uralkali 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 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
Shares in Hungarian refiner MOL 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
Rostelekom preference shares 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
PKN Orlen and Lotos 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
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