Apr
22
Daily Stock review - April 22, 2009
Filed Under Trader’s view |
The Russian exchange market continued slipping on Tuesday. The correction of the RTS index was indicated since the very morning. Within the frames of the technical factor an insignificant “kickback” occurred in the first half of day against the background of the temporary resumed oil price growth. However, the bearish mood took over and in the afternoon the RTS index continued reducing together with Europe and oil, which returned to opening levels. Among the main negative moments, the significant strengthening of euro-dollar pair versus ruble and the negative report of Bank of New York, which turned out to be worse than expected. The conjuncture at metal market got worse also. As a result the decline related to all liquid shares. The most significant harm was done to the bank, metallurgy and oil sectors. The profit fixation was indicated on the shares of VSMPO-Avisma after yesterday’s gallop. Note that considering the neutral news background the high activity was indicated in the shares of OMZ along with climbing quotes’ dynamics, and the gold price growth supported demand of Polyus Gold shares.
Main Stock news
“Market Council” prepares the new concept of retail power energy markets.
Market Council prepared propositions on the target model of retail power energy markets and accounts on concept conformance within 2009, having prepared the respecting draft law, announced the source at the energy market, familiar with the course of the given matter discussion, to Interfax.
Other Stock news
Ø Rosneft confirms the plans on constructing refinery in China.
Ø RusAl reduced production of aluminum by 7.2% in 1Q 2009, by the end of the year 11% down is expected.
Ø MMC returned to profitable level in 1Q 2009.
Ø Rostelecom showed generosity.
Output of fertilizers in RF dropped in 1Q 2009 by 27%, in March production recovery was indicated. (Rosstat)
Czech government did not allow Aeroflot to take part in the tender on Czech Airlines. (Interfax)
Daily Stock review - April 22, 2009 (PDF)