Sep
29
There were several factors, which provided a negative influence on Russian stock market on Friday. A bankruptcy of Washington Mutual (WaMu), delays in implementation of stabilizing measures by USA Congress and negative dynamics of oil prices led to a fall of RTS, forming below 1300 points. Moreover, a repeal of short sales ban by FFMS caused a negative effect and made the trades more volatile. The strongest damage lay on banking and oil and gas sectors. A fall of Sberbank’s stocks was the most significant, which formed more than -4%, VTB (-2%). The shares of LUKOIL, Gazprom and Surgutneftegas decreased by 2-3%. The market was supported by securities of Polyus Gold, Norilsk Nickel and NLMK. Suleyman Kerimov’s offer to purchase Potanin’s stake in Polyus Gold provided a sound effect on company’s shares (+18.7%). Norilsk Nickel’s stocks added +3.52%.
RTS decreased to 1285.47 points (-1.5%). Friday’s worst influence over the indicator has been sprayed by stocks of Sberbank (‑4.95%), LUKOIL (-2.8%) and Gazprom (-2.37%). The top support of the market has been provided by stocks of Polyus Gold (+18.7%), Norilsk Nickel (+3.52%) and NLMK (+4.5%).
Classic market’s turnover on Friday has totaled 13.5 mn USD. Top turnovers list was manned by stocks of Gazprom (3.0 mn USD), Norilsk Nickel (2.9 mn USD) and Sberbank (2.4 mn USD).
Today we do not exclude that a kickback of RTS could take place. It can be boosted by favorable external conditions. Among them could be: an implementation of stabilizing plan by USA Congress, supporting USA indices. However, taking into account unstable conditions, market turnovers could be low.
Main Russian Stock events
Gazprom corrected investment program.
Gazprom’s investment program for years 2009-2011 can form more than 1 trn RUR per year, said Alexander Ananenkov, deputy chairman of the board to journalists on Friday.
Other Russian Stock news
Russian oil companies will work in Venezuela.
On Friday Ministry of Energy of the Russian Federation and Venezuela signed Orenburg memorandum of understanding, concerning the establishment of Russian-Venezuela oil and gas consortium and development of special intergovernmental agreement, regulating countries’ cooperation in oil and gas sector.
Russian Stock Market Trade Review (PDF)