Jul
23
Daily review - July 23, 2009
Filed Under Trader’s view |
Wednesday the domestic exchange markets were dropping after solid growth within a week. There were several reasons for that: correction at the oil market after the output of data on fuel supplies in the U.S., and ruble weakening versus the bi-currency basket for the first time within 7 days, and the total overheating of the market. The oil and banks’ shares still are the most liquid ones. Movement in the shares of RusHydro, which were climbing despite the whole market’s falling, was indicated at the RTS market. However the picture was mainly negative, and after the output of Morgan Stanley repot worse than expected the correction got deeper.
Main news
Gazprom defined the yield of its Eurobonds.
On Wednesday Gazprom has defined the yield of its Eurobonds (LPN), nominated in Euro (5.5-year issue) and in dollars (5-year issue), at the level of 8.125% annually, having increased the transfer volume of Eurobonds in Euro, imparts Interfax, referring to its own sources.
Other news
Ø      In 1H 2009 Silvinit reduced output by 58%, but hopes for growth in 2H 2009.
In January-June 2009 Silvinit output 1.2 mn tons of potassium chloride, which is by 58.1% lower than the estimate of the similar period of 2008, states the message of the company.