Prime Minister Vladimir Putin hosts a government meeting on currency policy. Deputy Prime Minister Igor Sechin hosts a government meeting on energy policy. Arbitration hearings start for BP Plc and its billionaire partners in the TNK-BP venture. The central bank publishes weekly currency and gold reserves data. The central bank auctions short-term OBR notes. Novolipetsk reports.
ALL TIMES +4 GMT
WHAT TO WATCH: *Sechin chairs a government meeting on energy policy at 10 a.m. *The central bank reports weekly currency reserves after 10 a.m. *Putin chairs a government meeting on currency cooperation with Belarus and Kazakhstan at 1 p.m. *Russia’s central bank offers 10 billion rubles ($366 million) of short-term central bank OBR notes at auction after 1 p.m. *A London arbitration panel begins a new round of hearings in BP’s dispute with its billionaire partners in TNK-BP over the U.K. oil producer’s planned share swap with OAO Rosneft.
EQUITY MOVERS: *OAO Novolipetsk Steel is scheduled to report first-quarter earnings to Russian accounting standards after 10 a.m. *Fesco Transportation Group, a Russian shipper, is due to report full-year earnings after 10 a.m. *O’Key Group SA is due to hold a conference call with investors.
MARKETS: *The Micex Index fell 2 percent to 1,657.54 *The dollar-denominated RTS Index dropped 1.4 percent to 1,949.94. *Russia’s benchmark 2018 ruble Eurobond gained 0.2 percent, lowering the yield 39 basis points to 6.669 percent yesterday. *The ruble strengthened 0.7 percent to 27.1699 per dollar and traded little changed at 40.5550 per euro. *The MSCI Emerging Markets Index fell 0.2 percent to 1,168.62 at 8:43 a.m. *Crude for June delivery declined 0.3 percent to $108.94 a barrel on the New York Mercantile Exchange at 8:44 a.m. *Brent crude was little changed to $121.20 at 8:44 a.m. *Gold for immediate delivery gained 0.3 percent to $1,521.30 an ounce at 8:32 a.m.