Jul
21
Daily review - July 21, 2009
Filed Under Trader’s view |
Following the increased oil markets the Russian shares continued moving up also. At the same time the growth rates were rather significant, even for the recent day, which indicated high volatility. So, Monday oil reached the level of 66 USD per barrel, which is positive news for the market. Other external factors were also of positive nature. The whole range of Russian shares was upping, and likely no favorites were indicated. Nevertheless, likely the main drivers were as usual the shares of oil and bank sectors representatives, which moved the market and the principal Russian indices.
Main news
Gazprom Neft provided its stats for 1H 2009.
Gazprom Neft reduced oil export to far abroad by 2.6% within January-June 2009 versus the similar period of the previous year – to 7.4 mn tons, outline the materials of the company output for the 1H 2009.
Other news
Ø      Sberbank opens credit lines for VSMPO for 165 mn USD.
Sberbank opens non-resuming credit lines to VSMPO-Avisma corporation with a total limit of 165 mn USD, states the message of Sberbank. Credit lines will be valid through 5 year and 1 year. The company plans to use the received assets for financing the investment expenses and refinancing the arrearages to the other banks.