UAZ shares fell by 58% after rising in price by 39 times Trading in second-tier securities on the MICEX ended yesterday with an unprecedented drop in share prices of the Ulyanovsk Automobile Plant (UAZ, part of the Severstal-Auto group). After a dizzying rise in the first days of the new year, when UAZ shares rose 39 times in price, they fell sharply - by 58%. The market has not seen such ups and downs in recent years - YUKOS shares did not even fall in price by half during the day.

The largest exchange began trading in shares of the largest issuer Yesterday the liberalization of the Gazprom stock market reached the largest Russian platform - the MICEX. On the first day of trading in the shares of the gas monopolist on the MICEX stock market, their volume amounted to 1.46 billion rubles. (6% of the total share market of the exchange), 4,920 transactions were concluded with a turnover of 6.75 million shares.

The bank announced how much it was able to increase the pension savings of Russians The profitability of pension savings managed by Vnesheconombank amounted to 12.07% per annum at the end of 2005 - significantly more than VEB was able to earn for future pensioners a year earlier. Market participants believe that this is a good result for the state management company, which invests funds primarily in government securities, which have the lowest yield on the market.

The Central Bank gave the dollar to speculators The reluctance of the Bank of Russia to strictly adhere to its chosen policy in the foreign exchange market yesterday led to a sharp decline in the dollar exchange rate. Yesterday at MICEX trading the dollar fell in price by 24 kopecks. This is the second sharp drop in the American currency in Russia since the beginning of the year (as you know, on the first day of trading, January 10, quotes fell by 30 kopecks).

Severstal-auto talks about its new partner The management of Severstal-Auto yesterday shared plans to develop its relations with the Italian automobile concern Fiat. As the company's general director Vadim Shvetsov told reporters, they will be built on the models of Fiat's work in emerging markets - Brazil, Turkey, China, India. “And the ability to work in such a market (the market of third countries - Ed.

Gazprom promises to begin gasification of the Far East this year A presentation of the Far East gasification project took place yesterday in Khabarovsk. This event should have taken place a month ago, but the gas war with Ukraine on New Year’s Eve did not allow leading Gazprom functionaries to travel to the banks of the Amur.

Ukraine is heated by gas destined for Europe The Siberian frosts, which, following Russia, settled in Ukraine, led to a new aggravation of gas relations between Moscow and Kyiv. Yesterday, Deputy Chairman of the Board of Gazprom Alexander Medvedev accused Ukrainian partners of the fact that European clients are not receiving enough Russian gas flowing through the territory of Ukraine.

E.ON Ruhrgas CEO Burkhard Bergmann on the Russian-Ukrainian gas dispute In Germany, where the “Arctic” cold, as they are called here, reached minus 20 degrees, it was during these days that a heated discussion unfolded about the approaches of the new government to the formation of an energy strategy. Political and business circles are preparing for the energy summit, which Chancellor Angela Merkel has planned for April.

Putin sent Miller to Niyazov Urgently prepared and promising heated negotiations, the visit of Turkmen President Saparmurat Niyazov to Moscow passed quietly and peacefully. The parties limited themselves to general words about the development of cooperation and mutual compliments. Contrary to established practice, no statements were made to the press following the bilateral meeting between the presidents of Russia and Turkmenistan.

Japanese corporation buys American from British for $5 billion The famous Japanese corporation Toshiba Corp. made a big bet on energy. Its management announced the possible acquisition of the American company Westinghouse, which specializes in the production of equipment for nuclear power plants. Toshiba estimated the value of its assets at $5 billion. Westinghouse is owned by the British state company British Nuclear Fuels (BNFL).