AccessMyLibrary provides FREE access to millions of articles from top publications available through your library.
BP's decision to increase its investment in Sidanco (see p1) helped enhance Russia's image as a stable environment for international investors, allowing the Russian Trading System (RTS) index to continue its bull run of the last few weeks. Positive reports from ratings agencies also helped propel the RTS to a new high of 376.11 points.
Lukoil's share price nudged up after the company began to take steps to repair its tarnished image with investors. The firm has promised shareholders that it will pay a large Rbs15/share (49 cents/share) dividend on its 2001 profits -- 78pc higher than the previous year -- to give a total dividend payment of $400mn. This helped spur its value by 6.1pc to $16.37. Top management at the company is also due to present a company restructuring plan next week (Lukoil courts critics with restructuring plan).
It was also a good week for Yukos after the company was included in the Morgan Stanley Capital Index (MSCI) benchmark for global fund managers, a move likely to increase the exposure of the company to international …