Aug
22
Russian stock market - Daily News
Filed Under Trader’s view |
Yesterday Russian stock market was rather volatile, being pushed up and down. Even though the trades began at a growth, the trend has been changed to a fall rapidly. The decrease continued on to 12.30 (local Moscow time) and RTS lost almost -2% to this hour. However, through all of day’s second half the market was expanding, making RTS compensate for morning’s fall, reinforcing above 1700 points. Looks like Russian stock market has been supported by a significant spike of oil price – Brent oil brand rocketed +5.5 USD. Then the stocks of oil & gas companies were promoted to primary propellers of market’s growth. On the other side of market’s map was the financial sector.
RTS of Thursday upped +0.52% and formed 1722.41 points. The utmost significant support for the indicator has been provided by stocks of: LUKOIL (+2.38%), Gazprom (+1.58%) and Norilsk Nickel (+3.81%). The negative influence upon the indicator was sprayed by stocks of Rosneft (-1.32%), VTB (-1.64%) and Sberbank (-0.31%).
The turnover at classic RTS has formed 43.7 mn USD. Top turnovers were achieved by stocks of Sberbank (16.8 mn USD), Gazprom (9.9 mn USD) and LUKOIL (5.6 mn USD).
We think that Russian stock market’s dynamics of Friday would be volatile, due to light and insignificant external factors of influence: DJ upped +0.11%, NASDAQ has been dropped -0.36%. Asia stock market’s dynamics was also low. The factor to prove support for Russian stock market’s dynamics – yesterday growth of oil price +7.5 USD. Therefore, oil & gas companies would enjoy a popular demand today.
Main Stock events
Gazprom’s investment plan could be increased again.
Gazprom plans to expand its record investment plan by 25%, after it has already been increased, earlier this summer by 16%, announced Valery Golubev, Gazprom’s deputy chairman on Tuesday’s conference, concerning Leningrad region’s gasification, Interfax reported.
Russian Daily Stock trader’s view - August 22, 2008 (PDF)