Jul
17
Daily review - July 17, 2009
Filed Under Trader’s view |
The climbing trend still reins the Russian share market. Along with that we should outline that the growth rates are slowing down. Note that the main reasons of growth are the climbing oil prices, and also positive stats. Particularly, on Thursday data on unemployment in the U.S. came out, and also the quarter report of JP Morgan Chase. The news was positive due to data being better than expected by the market participants. Note that the current week provided a lot positive stats, which provides support the main global markets. Totally the situation did not change much versus the previous days – almost all the blue chips are being purchased, several shares of the “second echelon” are loosing in price.
Main news
IRNC of North-West reported by IAS foe 2008.
Sales of IRNC of North-West grew by the end of 2008 by 12% to 935 mn USD, cost of the company upped by 13% and totaled 880 mn USD.
Other news
Ø In 2Q 2009 NLMC upped the output of steel by 24%, lowered metal products selling by 2.6%.
The company also expects the financial results of the group for 2Q 2009 not to show any significant positive dynamics. In 2Q 2009 EBITDA margin of the company remained at the level of 15-20%, outlines the company.
Ø MMC conducts negotiations with VTB and Sberbank on covering the credits ahead of schedule.
Magnitogorsk metallurgy company conducts negotiations with VTB and Sberbank on settling the credits ahead of schedule, announced the vice-president of MMC, MC on finance and economy Oleg Fedonin. According to him, credits in VTB for 4 bn RUR and Sberbank for 15 bn RUR were meant. The company has already covered the credit in Gazprombank for 5.8 bn RUR ahead of schedule in June.
Ø Aeroflot summed up its operating results for 1H 2009.
In June 2009 Aeroflot transported 758.1 thousand passengers (including the charter lines – 12.5 thousand passengers), executed 2.174 bn passenger-kilometers, imparts the message of the company.