Nov. 3 (Bloomberg) -- Russia reached an agreement with Georgia over its entry into the World Trade Organization. President Dmitry Medvedev meets his counterparts at a Group of 20 summit in Cannes, France. The Federal Statistics Service releases monthly inflation data.
ALL TIMES +4 GMT
WHAT TO WATCH: *Russia struck an accord with Georgia that may clear the way for its accession to the WTO, said Maxim Medvedkov, the chief negotiator for Moscow. *Russia’s services industry stagnated in October as the Purchasing Managers’ Index rose to 53.5 from 53.3 a month earlier, HSBC Holding Plc said, citing data compiled by London-based Markit Economics. *Medvedev meets his counterparts at the G-20 meeting in Cannes after 10 a.m. *Energy Minister Sergei Shmatko meets regional leaders in preparation for the approaching winter heating season after 9 a.m. *The statistics service is scheduled to publish monthly changes in consumer prices after 10 a.m. *The central bank is due to publish weekly changes to its international currency and gold reserves after 10 a.m.
EQUITY MOVERS: *OAO GMK Norilsk Nickel, the largest producer of the metal, set an acceptance ratio of 10.95 percent for its $4.5 billion stock buyback, which closed last week. *OAO Inter RAO UES, the Russian power generator and exporter, got approval from the Federal Financial Markets Service to list as much as 25 percent of its stock abroad.
MARKETS: *The 30-stock Micex Index rose 2.24 percent to 1,488.86, and the dollar-denominated RTS Index gained 2.78 percent to 1,526.19. *Russia’s benchmark 2018 ruble Eurobond rose, pushing the yield down 11 basis points to 7.288 percent. *The ruble strengthened 0.8 percent versus the dollar to 30.540 and was little changed versus the euro at 42.1600. *The MSCI Emerging Markets Index fell 0.8 percent to 969.05 at 9:17 a.m. *Crude for December delivery fell 1.2 percent to $91.40 a barrel on the New York Mercantile Exchange. *Brent crude declined 0.6 percent to $108.65 a barrel on the ICE Futures Europe exchange in London. *Gold for immediate delivery dropped 0.4 percent to $1,731.93 an ounce.
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