Aug
8
Throughout Thursday Russia’s stock market experienced the long-awaited growth. Whilst completely ignoring the external background, investors have finally looked upon the growth of foreign indices. The backing of significant underestimation throughout the whole range of stocks made investors play upwards. Oil market has also supported the “bulls” – oil barrel price has reached 120 USD closely yesterday, quickly finding reflection in quotes of Russia’s oil companies. Among other sectors, we would like to point out Mechel. Yesterday company restored some of its lost capitalization, after Vladimir Putin’s criticism two weeks ago. Norilsk Nickel’s stocks looked below the market. As turmoil around shareholders’ actions tanks the quotes.
RTS of the day added +1.54% and closed at 1842.58 points. RTS has been supported by stocks of Gazprom (+3.22%), LUKOIL (+2.11%) and Mechel (+20.42%). On the other, the negative influence had its own storms – index growth has been reduced by stocks of Surgutneftegas, Uralkali and Acron. Though, according to RTS – the stocks of two latter companies expanded +1.09% and +0.56% respectively, whilst Surgutneftegas stocks remained unchanged.
Thursday’s turnover of RTS’ classic market has formed 37.7 mn USD. The top turnovers were evident on stocks of LUKOIL (7.4 mn USD), Gazprom (6.2 mn USD) and Norilsk Nickel (3.2 mn USD).
US indices have demonstrated some negative sliding lately, which may yet to prove a withholding influence over Russian market. More to that, the fighting breaking out South Ossetia may bring additional negative upon Russian market. I.e. we think that in general, the movement vector is pointed downward. Throughout today’s trades one must pay close attention to stocks of Uralkali. As yesterday the company announced upgrade of prices on its fertilizers shipped to Russia, in over three times. This news may cause increase of company’s quotes. Take a closer look at Silvinit’s stocks as well, which promised to cut dividends – and this news may prove a negative pressure upon the company’s quotes.
Main Russian Stock Market events
Tatneft gains rating.
Moody’s Investors Service, issued-out a corporate family rating of Ba2 to Tatneft, says press release of the agency. The rating forecast is “stable”.
Other Russian Stock Market News
Silvinit: no more dividends?
According to 1H 2008 results, Silvinit can distribute dividends of 220 RUR per common and preferred share, Interfax informs.
FESCO’s new shareholder.
European Bank for reconstruction and development purchased 3.8% DVMP’s stake (FESCO group) for 120 mn USD.