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Daily review - June 09, 2009
Filed Under Trader’s view |
On Monday the Russian share market traded negatively – the grounds opened with drop, which lasted till noon. After that the market started moving laterally and till the end of the day its value varied 1,100 points of the RTS index. Among the drop reasons was the slight slipping of the oil prices, which under conditions of local overheating caused such serious reduction of the Russian shares’ quotes. Besides, ones again ruble fell versus dollar, which looked like negative for the Russian shares. Reduction affected almost all liquid shares, and most of all dropped Norilsk Nickel. However, it did not go far from the oil-and-gas shares, the representatives of which dropped 5-8%.
Main Stock news
Tatneft reduced extraction as planned.
In January-May 2009 Tatneft extracted 10.665 mn tons of oil, which is by 2% less than a year before, however, according to the message of the company, that was 1.7% more than planned.
Other Stock news
Ø Uralkaliy and Silvinite offer to up the domestic prices.
Uralkaliy and Silvinite intend to up the price for potash moriate for the Russian producers of complex fertilizers by 20% to 4,746 RUR per ton, announce Vedomosti, referring to the company’s representatives.
Daily review - June 09, 2009 (PDF)