Apr
30
Daily Russian Stock review - April 30, 2009
Filed Under Trader’s view |
At Wednesday trades the Russian stock market ignored the technical moments – the figure “double peak” did not happen due to the market rushed up from the very open of the trading session. Partially the quotes might have been supported by the oil price adding 1 USD per barrel. At the same time the fundamental factors, which were negative, got ignored by the market. So, on Wednesday information on GDP dynamics in the U.S. came out for 1Q 2009. Though slight decrease of drop rates of the American economy was indicated, still the results turned out to be worse than the market expected. Nevertheless, none of the foreign grounds reacted significantly to that information, but U.S. markets opened with 1% growth. Following the oil during the day the best dynamics was indicated within the oil-and-gas sector. Besides, Gazprom’s report output might have been the catalyst due to being positive. Along with that the quotes of Severstal and Mechel reduced significantly. We assume that might have been a reaction of the companies to the output of ArcelorMittal report for 1Q 2009, which turned out to be worse than expected. Possibly the market participants expect that Russian companies will face the same problems.
Main Russian Stock news
Gazprom reported by IAS for 2008.
Gazprom’s sales in 4Q 2008 totaled 946.02 bn RUR, operating profit totaled 237.6 bn RUR, EBITDA grew and reached 287.1 bn RUR. The net profit formed 37.5 bn RUR.
Sistema: the year ended giving zeros.
Net loss of AFK Sistema by US GAAP in 4Q 2008 totaled 713.9 mn USD. Sales of Sistema reduced by 3.4% to 4 bn USD. OIBDA reduced by 39.1% to 873.2 mn USD. OIBDA margin fell to 21.7% versus 34.5% a year before.
Other Russian Stock news
Ø Rosneft will build up the dividends by 20% to 1.92 RUR.
Ø TNK-BP Limited anticipates the results of TNK-BP Holding, but with shades.
Ø MEDT does not plan changing rates of energy market liberalization.
Ø In 1Q 2009 Severstal reduced steel production by 21% to 3.8 mn tons.
Ø Financial results of Akron for 2008.
Daily Russian Stock review - April 30, 2009 (PDF)