Actuality January, 24, 2008

On Thursday, first for the last eight days the Russian stock market closed into black.

Moreover, in so considerable that two days of slump on Tuesday and Wednesday were compensated. According to the session results, RTS index grew by 5,15%, up to 1 988,23 points, MICEX index – by 5,80%, up to 1 661,99 points.

The increase of traders' optimism was encouraged by new measures' expectations of financial sector support. In particular, by hearsay on the market, the matter of providing about $20 bln to the largest American insurers on the market of bonds is discussed in the American Senate, and that should improve their financial position and protect from the further decline of ratings from the ratings agencies' part. On such background companies of financial sector became the leaders of growth that energized the whole market. However, on the most Asian trading floors the situation did not look so optimistic: Japan and Korea stock markets added only 1-2%, while India and Hong Kong stock markets declined by 2%.

And the real support to the Russian stock market rendered the vigorous growth of the most European indices by 3-6%, that were winning back the rebound of environment in the USA.

Moreover, on Thursday were published business barometer of the German institute Ifo for January, that appeared better than expectations, and also reporting of the largest American and European companies, that pleased investors also. In particular, expectations exceeded Finnish Nokia, German Siemens AG, Italian Fiat, American Lockheed Martin and Xerox.

Besides, an important positive moment became information about GDP growth of China in 2007 by 11,4%. As yet fears about deceleration of the Chinese economy appeared exaggerated.

Also on Thursday became known the reporting of Lennar Corp.

for the 4Q of 2007,

the second largest construction company in

the USA. The loss appeared within the limits of expectations and not as high as a year before.

In general, after growth that took place on Thursday, it seems that a local bottom is passed.

On raw material markets oil cost of Brent mark went up more than 1%, up to $87,6 per barrel, most non-ferrous metals also grew by 2% on the average.

So oil companies became leaders of the Russian market.

Lukoil

stocks grew by 8,56%, up to RUR 1 736,99. The reporting of one of its largest shareholders – Conocophilips – rendered support.

According to 2007 results the company net income from participating in Lukoil has increased by 27,5%, up to $1,818 bln. Thus, Conoco estimated the net income of Lukoil at $9 bln, that exceeds a bit the average on the market prediction on the income of Lukoil.

Surgutneftegaz stocks grew by 7,87%, up to RUR 24. And Gazprom grew rather modestly on this background – only by 3,78%, up to RUR 307,2.

Besides oil securities the stocks of chemical and mining and metallurgical sectors have shown considerable growth: securities of Uralkali, Akron and Raspadskaya grew by 9-16%.

The stocks of Sberbank grew by 6,63%, up to RUR 96,5 by the result of day.

At the end of trades appearing information rendered support that the bank net income increased up to RUR 115 bln for 2007, and in 2008 the income increase by 20% is expected.