Rosneft widened 8 percent Thursday to Friday on active buyout of stocks on LSE. The reasons could be expected increase in company’s value thanks to the YUKOS takeover, the equally expected addition to Morgan Stanley indices or the possible consolidation with Surgutneftegaz.
Rosneft widened 8 percent in two final trading days of the past week, fueling capitalization to above $100 billion. The last deal on RTS was clinched at $9.3 per a stock, while the company’s capitalization reached $105.2 billion, 1.5 fold above LUKOIL. Of the amount, $15 billion were generated through subsidiaries' takeover.
The foreign traders accounted for the better part of agitation related to Rosneft. The company’s turnover was nearly $65 million on LSE Friday, but the major part of it, the analysts say, was generated outside the exchange. It means the buyers could have attempted to benefit from some insider information. The traders in Russia were also set in motion. On classic RTS, Rosneft sales that had never soared above $2 million in the last fortnight, exceeded $5.7 million Friday.
Asked to specify the insider information, the analysts came up with different ideas. First of all, Rosneft has been recently thought a frontrunner for refining assets of YUKOS. Should Rosneft takes them over, its capitalization would stand at $110 billion, Aton analysts estimate.
Another explanation could be adding Rosneft to Morgan Stanley’s indices – MSCI Emerging Markets – which the market forecasts to happen November 14 or in December.
But the most intriguing piece of news could be the merger of Rosneft and Surgutneftegaz, which has been long talked over on the market. In the oil community, however, they refute all rumors about forthcoming consolidation.
“A month ago, General Director Vladimir Bogdanov blankly denied the possible sale of Surgutneftegaz. Nothing has changed, as far as I know,” said Surgutneftegaz briefer Raisa Khodchenko. Rosneft briefer didn’t confirm the consolidating rumors either.