Oct
2
Daily Russian Stock results - October 2, 2008
Filed Under Trader’s view |
Russian Stock Market today. Today the market has been dropped, on the back of low turnover. The worst damage has been suffered by the metallurgy sector securities, by Severstal and Norilsk Nickel in particular; do remember that Norilsk Nickel is to publish its 1H report tomorrow. The banking sector had Sberbank looking just slightly better, thanks to changes in the natural persons credit terms. Some more of the bad mood was carried in by the failing statistics on initial claims and industrial orders in the US.
Market tomorrow. Everything seems as if the market would continue to fall tomorrow. The market such as this is unlikely to find any buyers this Friday.
Russian Bonds
Market yesterday. The market rates were still at high 12-20%. The money offer is still around, mostly from large state-run banks. Do note the weak demand in 1st and 2nd tier securities, featured in the Lombard list of less than 2 years duration (CTK4, YTK5, YTK4, Mosobl6, Samarskaya Obl5).
Market tomorrow. Tomorrow we expect the market to demonstrate similar or lesser dynamics; the cash offer is likely to drop due to the upcoming weekend.
No comment - Russian Stock Market
ECB keeps the rate at 7-year highest of 4.25% per annum (Interfax)
The number of Americans to file initial jobless claims has expanded by 1 thousand, to 497 thousands total (Bloomberg)
TNK-BP’s managers lawsuit to company’s CEOs has been revoked (Interfax)
FNC IAS-compliant sales of 2007 up +12%, to 63.8 bn RUR (Interfax)
Polyus Gold got 132.4 mn USD of net income in 1H under IAS, recovering from the losses suffered during the prior year (Interfax)
Daily Russian Stock results - October 2, 2008 (PDF)