Apr
29
Daily Stock review - April 27, 2009
Filed Under Trader’s view |
As expected, the week closed mildly positive at the exchange market. Despite light correction of the RTS index at the trades open, which was caused by decrease of futures of the American indices and oil prices, rather soon the market turned around due to favorable background. RTS index climbing was supported by the positive open in Europe at the background of unexpectedly good stats on retail selling in UK. Besides that bi-currency basket got weaker and due to dollar rate low the oil prices resumed climbing. The most significant demand was for the shares of Gazprom, Raspadskaya, Sberbank, RusHydro and Surgutneftegas. Among the shares of the second echelon Novorossiysk sea trade port was adding in price due to positive report for 2008. On contrary, GAZ lost in price by more than 10% at the background of negative results for 1Q and court decision on the claim on Kirov plant – negative for the group. However, the deal amount was not that high so no significant affect on the market was made.
Main Stock news
MEDT might shorten the income of gas industry starting from 2010.
Gas prices for the industry in 2010 might climb up by 5%, for the citizens – by 20.8%, imparted a source in RF government to Interfax. According to him, such offers are included in the new version of economy development forecast for 2009-2012, which has been prepared by MEDT. Tariff offers are currently being discussed with the authorities.
Liberalization of power energy market in RF might slow down for half year.
Liberalization of the wholesale market of power energy in RF might slow down for half year, imparted a souce, familiar with a detailed forecast by MEDT for 2009-2012, to Interfax. The new forecast provides for the market getting half-liberalized since 2010, and in 2011-2012 the share of selling via free prices will be limited by 75%, added the interlocutor of the agency.
Other Stock news
Ø In 2009 Severstal doubled export supplies volume to 50-60%.
Ø The court satisfied the claim of Kirov plant on processing non-ferrous metals on collecting 49 mn RUR of debt from GAZ group.
Ø Sitronics: target reached, what next?
Ø KuybishevAzot held back the dividends till better days.
Daily Stock review - April 27, 2009 (PDF)