May
8
Daily Russia Stock review - May 08, 2009
Filed Under Trader’s view |
On Thursday the RTS index continued rapid growth. The main reason of growth was the commodities’ price: Brent oil reached the level of 58 USD per barrel having renewed the half year maximums, metals were also adding in price at LME. Soon the support came on behalf of the European indices, which opened with growth, and in the afternoon unexpectedly positive stats came out in the U.S., which strengthened the positive expectations of the players. Besides, for 6 days in a row ruble is getting stronger versus the bi-currency basket, which also supports the domestic grounds. The activity was indicated in the oil-and-gas sector and banks. Note that today after the close of American markets the results of stress-tests will come out and will be defining for the further movement of the exchange market. The main climbing took place in the shares of Sberbank, VTB, Saint-Petersburg bank, Norilsk Nickel added more than 10%. The shares of oil-and-gas sector added average 4-5%. The RTS index in its turn reached the level of last October, having overcome the level of 900 points.
Main Russian Stock news
CTC Media: results at slipping advertisement market.
Sales of CTC Media by the end of 1Q 2009 totaled 105 mn USD, which is by 23.4% lower than the estimate for the similar period last year. The net profit reduced by 44% and totaled 23 mn USD.
Other Russian Stock news
Ø RAS net profit of Mosenergo more than doubled in 1Q 2009.
Sales of Mosenergo in 1Q 2009 totaled 37.9 bn RUR, which is higher than the similar estimate of 2008 by 22%. Growth of the estimates was provided by the upping of average distribution tariffs for power and heat energy and upping of output volumes of heat energy.
Ø Severstal will stop Severstal Warren and Severstal Wheeling.
Severstal will totally stop production Severstal Warren (former WCI Steel) and facilities on steel and rolled-metal production at Severstal Wheeling (former Esmark) due to continuing worsening of the economic situation and further decrease of orders level, imparts the message of the company. The company announced its intention to stop the facilities on output of cold-rolled metal and coated sheet at Severstal Wheeling.
Daily Russian Stock review - May 08, 2009 (PDF)