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Daily review - June 17, 2009
Filed Under Trader’s view |
On Tuesday slight rally was indicated at the Russian market. The trades opened with weak decrease within the frames of following the lowered American grounds. However, the drop was insignificant due to the market having actually considered all the negative in the prices on Monday, having lost 4-5%. However, in the afternoon the market started climbing gradually. In the beginning the support was provided by the upped oil prices, later – b y the output of stats on the newly-built houses in the U.S., which unexpectedly turned out to be better than forecasted by the market participants. As a result by the end of the day the Russian shares managed to enter the positive zone. The main growth drivers were the shares of the oil companies, which climbed following the oil prices.
Main Stock news
Sibirtelecom: annual results by IAS.
Sales of Sibirtelecom, JSC in 2008 by IAS totaled 37.7 bn RUR versus 35.2 bn RUR a year before. The operating profit reduced from 6.2 bn RUR to 5.7 bn RUR. The net profit totaled 1.5 bn RUR in 2008, which is by 42% lowered than 2007.
Other Stock news
Ø Gazprom estimated the coming prospects.
On Tuesday the representatives of Gazprom gave a large-scale press-conference on the company’s development prospects and the activity of the concern under crisis conditions. The main conclusions were the following: lowering the capital investments for the close-coming years, delay of launching the strategic deposits due to the current and forecasted market conjuncture, particularly due to the demand and its recovery forecast. Production forecast for the current year remains within the frames of 450-510 bn cubic meters of gas.
Ø Financial results of Akron and Dorogobuzh by IAS for 1Q 2009.
On Tuesday June 16, Akron and Dorogobuzh reported for 1Q 2009 by IAS. So the report of the company states that within the reported period the mother company (Akron) gained net loss in the amount of 840 mn RUR, Dorogobuzhclosed the quarter with profit of 417 mn RUR.
Daily review - June 17, 2009 (PDF)