Jul
20
Daily review - July 20, 2009
Filed Under Trader’s view |
Friday became a good close of the climbing week – the RTS index grew all five sessions in a row and added almost 11% during that time. Similar to the previous days the main growth drives were the stats from the U.S., and also oil price dynamics. So, today the financial reports of a number of American companies were output, including the representatives of the bank sector – Bank of America and Citigroup. The results of both companies exceeded the market expectations. The data on real estate market have also exceeded the forecast. Besides, the oil price went up to 64 USD per barrel (Brent mix). Under such favorable conditions market’s growth was no surprise. Almost all the liquid shares closed positively with several exceptions.
Main news
Mosenergo reported for 1Q 2009 by IAS.
Sales of Mosenergo by the end of 3 months of 2009 reached 38 bn RUR, which is by 22% higher than the given estimate for the similar period of the previous year. Sales growth was due to the upping of the useful output of heat energy and growth of output tariffs for power and heat energy. Expenses on the current activity of the company within the reported period totaled 32 bn RUR, having upped by 13%.
Other news
Ø      13 deposits in East Siberia will operate via special export duty.
Prime-minister of RF Vladimir Putin signed an agreement on introducing a special export duty for oil, extracted from 13 deposits of East Siberia, imparts Interfax.