RUSSIA DAYBOOK: Medvedev Meets South Korea’s Lee, Oil Statistics

Russian President Dmitry Medvedev meets his South Korean counterpart Lee Myung Bak in St. Petersburg. OAO Gazprom plans an investor briefing on its power business. OAO GMK Norilsk Nickel President Andrey Klishas may discuss company strategy. Russia reports monthly oil and gas production.


WHAT TO WATCH: *Medvedev will meet with South Korea’s Lee in St. Petersburg. *Prime Minister Vladimir Putin visits to Kaliningrad. *The Finance Ministry plans to auction 10 billion rubles ($325 million) of OFZs with yield guidance at 8.1 to 8.2 percent. *The Energy Ministry’s CDU-TEK unit reports monthly oil and gas production statistics after 9 a.m. *The Federal Statistics Service reports weekly inflation at 4 p.m. *Grain Producers’ Union President Pavel Skurikhin discusses the harvest.

EQUITY MOVERS: *Gazprom will brief investors on its power business at 10 a.m. *Norilsk’s Klishas holds a briefing on strategy at 11 a.m. *OAO Rosneft, Russia’s largest oil producer, may move as crude oil futures dropped for a third day on worries that Greek Prime Minister George Papandreou’s pledge to hold a referendum on Europe’s bailout plan may lead to its failure. *Ukraine’s central bank said the country may pay Gazprom, Russia’s monopoly gas exporter, in rubles for fuel supplies instead of dollars. *OAO Enel OGK-5 may publish nine-month financial results. *OAO Russian Railways may borrow 292 billion rubles in 2012 through 2014 to upgrade infrastructure, Vedomosti reported, citing the company’s three-year plan.

MARKETS: *The 30-stock Micex Index fell 2.82 percent to 1,456.29, and the dollar-denominated RTS Index dropped 5 percent to 1,484.98. *Russia’s benchmark 2018 ruble Eurobond fell, pushing the yield up 22 basis points to 7.396 percent. *The ruble weakened 2.1 percent versus the dollar to 30.800 and strengthened versus the euro at 42.1350. *The MSCI Emerging Markets Index fell 0.5 percent to 963.90 at 9:10 a.m. *Crude for December delivery fell 0.7 percent to $91.59 a barrel on the New York Mercantile Exchange. *Brent crude declined 0.5 percent to $109 a barrel on the ICE Futures Europe exchange in London. *Gold for immediate delivery rose 0.2 percent to $1,723.82 an ounce.

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