OREANDA-NEWS. October 12, 2010. Veles Capital released daily market review:

Master plan of gas industry development till 2030 was negotiated. “Master plan of gas industry development till 2030 was negotiated, there were no controversions”, announced the vice prime-minister RF Igor Sechin. According to vice prime-minister, all offers that were made by participants of the meeting, will be considered by the government.

Output of ruble Eurobonds of RusHydro. We estimate given news mildly positively. The company currently obtains negative net debt, and the expected interest payoffs will form not more than one eighth of the operating cash flow of the company, so upping of the debt load does not created additional financial risks, but will allow lowering the cost of capital and will be favorable to holders of the company.

Severstal will up its share in High River Gold Mines. Nord Gold N.V., the subsidiary of Severstal, is purchasing 2.26% of shares of the Canadian gold-mining company High River Gold Mines.