Aug
19
Monday’s environment of Russian stock market was flagged by an extremely low activity of participants. However, the movement vector of most of the quotes was moving upwards and only during the last half hour of trades, it changed course, now moving towards the bottom. The positive movement during the early trades could have been related to a graduate normalization of situation throughout Caucasus. This background even made RTS beat 1800 points during first hour of trades. Although bulls initiative was not supported by majority of investors, and after noon the market dropped slightly, remaining in the positive zone through the day.
RTS of Monday decreased just by little, losing (-0.4%) to 1778.29 points. The top negative of index has been brought by quotes of: Gazprom (-2.29%), LUKOIL (-2.06%) and Severstal (-6.23%). On the other hand, the index has been supported by stocks of Sberbank (+1.91%), NOVATEK (+1.41%) and Surgutneftegas (+1.25%).
Market’s turnover of yesterday was low, forming just 14.7 mn USD. Yesterday’s highest turnovers were achieved by equity of: LUKOIL (5.2 mn USD), Gazprom (2.8 mn USD) and Sberbank (1.5 mn USD).
We think that today – Russian stock market may drop considerably. The external background is not as positive for Russian stocks – US indices have dropped down, no to mention the oil price going below 110 USD (Brent). Nevertheless, the downfall is not likely to be deep – Russian stock market lost enough as it is already.
Main Russian Stock events
LUKOIL is allowed to buy gas stations in Turkey.
LUKOIL have got a permission of Turkish regulatory bodies to purchase Akpet, trade company, possessing 693 gas stations in Turkey, announced Bloomberg. According to a statement of Turkish regulatory body, the deal complies with Turkish antimonopoly legislation.
Other Russian Stock news
Novoship’s 1H 2008 results.
According to IAS 1H 2008 report, Novoship’s revenue increased by 17%, to 371.2 mn USD vs prior results, says company’s statement.
Russian Stock Market Report (PDF)