Aug
4
Daily review - August 04, 2009
Filed Under Trader’s view |
The beginning of the week was positive at the Russian share market. The RTS index opened with gap up versus the favorable situation at the commodity grounds. During the day the oil prices were exceeding the level of 73 USD, which supported interest in the oil-and-gas shares. Primarily the investors were interested in Gazprom and Rosneft. Against the background of ruble strengthening the trades were active on Sberbank. The reason for growth of the international exchange grounds was the positive data on the GDP of the U.S., output Friday night, and also the statement by Alan Grispin on the possibility of soon recovery of the economy.
Main Stock news
Russian FEC indicated positive operating trends.
On Monday Ministry of energy summed up the results of Russian FEC operating within July and January-July 2009. So, gas extraction in July totaled 41.4 bn cubic meters – by 16% lower than in July 2008, but 10% higher than in the previous month. Gas extraction within January-July dropped by 19.8% versus the previous year and formed 316 bn cubic meters. Volume of oil and gas condensate extraction in RF in January-July 2009 grew by 0.3% versus the similar estimate of 2008 and totaled 284.516 mn tons (9.837 mn barrels per day). In July Russia output 41.917 mn tons of oil. At the same time daily average output of oil in the previous month reached 9.911 mn barrels per day (all-time high daily average estimate within the past 10 years).
Other Stock news
Ø      Strong estimates of RusHydro by RAS for 1H 2009.
Sales of RusHydro by RAS for 1H 2009 grew by 34% to 39.2 bn RUR. At the same time the cost of RusHydro dropped within 6 months of 2009 by 6% versus the similar period of 2008 and totaled 17.2 bn RUR.
Ø      Mechel gets down to managing the Zlatoustovsky metallurgy plant.
The government of Chelyabinsk region, Chelyabinsk metallurgy company and Zlatoustovsky metallurgy plant, JSC (a member of ESTAR group earlier) negotiated a strategic partnership.
Ø      Net profit of Power Machines by RAS in 1H 2009 grew by 68 times.
Net profit of Power Machines, JSC by RAS in 1H 2009 exceeded 2.368 bn RUR. Sales of the company upped by 80% within the given period to 20.389 bn RUR, EBITDA totaled 3.211 bn RUR, which is by 6.8 times higher than in 1H 2008.