Jul
27
Daily review - July 27, 2009
Filed Under Trader’s view |
The last trading day of the week was positive. The trades at the RTS market opened with 2.7% growth against the background of the oil price upping. As a result the indicator overcame the level of 1,000 points and held its positions during the day. The oil-and-gas sector was the main growth driver. Activity still was indicated in Sberbank, which might have been supported by ruble strengthening versus the bi-currency basket. Among the economy stats only data on GDP of the UK was worth noticing, and also the consumer mood index in the U.S., which has been output after the close of RTS trades. Along with that we should note that the trades at MICEX were highly volatile. On one hand the market was supported by climbing oil prices, but on the other hand the pressure was provided by the American futures, which reacted to weak reports by Microsoft, American Express and Amazon.com, output Friday night.
Main news
Capital investments of Gazprom will total 645 bn RUR in 2010.
Gazprom’s capital investments program has been planned in the volume of 645 bn RUR. In 2010 Gazprom will require 1.5 mn tons of large-diameter pipes, Gazprom will order about 900 thousand tons of such pipes in the current year.
Other news
Ø      Ministry of Finance seeks additional sources of income to the federal budget within the oil-and-gas industry.
Ministry of Finance seeks additional sources of income to the federal budget of 2010 in the volume of 500 bn RUR and offers to up the MET for gas for those reasons, along with export duties for gas, oil products and etc.
Ø      Ministry of Energy prepared an order draft on the power market.
The first long-term competitive power outlet might be conducted till December 25, 2009 at the first stage and with the supply date from January 1, 2011.
Ø      Vladimir Putin expressed his opinion of the support to metallurgy workers.
The State is ready to support the Russian metallurgy companies in execution of their investment programs.
Ø      CZP lowered Zink output in 1H 2009 by 33%.
Chelyabinsk Zink Plant lowered the output of Zink by 32.9% in 1H 2009 versus the similar period of the previous year to 51.7 thousand tons.
Ø      Uralkaliy followed Silvinit and lowered the price of Potassium Chloride.
Trader of Uralkaliy and Belaruskaliy signed a contract with Indian Potash Ltd. on shipping 675 thousand tons of Potassium Chloride via the price of 460 USD per ton.