Apr
6
Daily Stock review - April 06, 2009
Filed Under Trader’s view |
Trader’s view Due to positive news over the ocean the Russian share market began the trading session with growth on Friday. Note that the day before the foreign markets indicated climbing and the oil closed with 9% growth. However, climbing stopped at the 751 points level of the RTS index. As we outlined earlier, the market is overheated and there were little positive factors and growth was of “residual” character – positive of Thursday was being won back. Slight demand was for the shares of oil and gas sector, which upped due to oil price high. Along with that due to price reduction of traditional metal gold the gold miners’ sector lost in price.
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Gazprom got its rating equal to sovereign.
The international rating agency Moody’s reduced the debt ratings of Gazprom to “Baa1” from “A3”. According to the press-release of the agency, the forecast id “stable”.
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Ø Belon refinanced the short-term credit and accounts on state warranties for 5 bn RUR.
The company refinanced almost all its short-term credits, including 2 bn RUR in VTB for 18 months, and currently negotiated with Gazprombank and Transcreditbank for 2 years, imparted the press-cutting service. Besides, Belon accounts to obtain state warranties for 5 bn RUR for 2 years.