Jun
9
Daily Stock review - June 03, 2009
Filed Under Uncategorized |
On Tuesday the trades showed high volatility. At the trades open the RTS index corrected after rapid growth the day before, and also against the background of the oil price lowering that has begun. However, soon the market turned around and the RTS index reached the level of 1,200 points. The main growth drivers were the shares of Sberbank: common shares added more than 5%, the preferred ones – more than 10%. In the afternoon the market turned around again. The shares of oil-and-gas sector were mainly reducing. Due to nickel price lowering the shares of Norilsk Nickel went down also. Among the shares of the second echelon at MICEX the shares of AvtoVAZ added 2.74% against the background of Putin’s order on providing bail to the motor-car constructor.
Main Stock news
Sitronics: negative again.
Sales of Sitronics, JSC in 1Q 2009 by US GAAP totaled 215 mn USD versus 446 mn USD a year before. Net loss grew from 8 mn USD in 1Q 2008 to 40 mn USD in 1Q 2009.
Other Stock news
Ø Gazprom: extraction lowering does not stop.
June 2 CDD FEC output data on gas extraction in Russia for January-May. According to the report in May gas extraction dropped in Russia by 28.4% to 40 bn cubic meters, and sum total for five months – by 19.3% to 237.7 bn cubic meters of gas.
Ø NLMC gained 194 mn USD of net loss for 1Q 2009 by US GAAP.
Sales totaled 1.293 bn USD (1.8 times less), EBITDA – 196 mn (4.3 times less), EBITDA margin – 15%. In 1Q 2009 loss has been assigned on the executed forward contracts in the amount of 150.8 mn USD. By the end of 1Q 2009 base value of not executed forward contracts and options formed 1.957 bn USD, net negative fair value of their value totaled 445 mn USD.
Ø Mechel might reduce dividends for 2008 by 4.8 times.
Mechel group’s board of directors recommended the holders at the annual meeting on June 30 to approve the dividends for 2008 in the amount of 5.53 RUR per common and 50.55 RUR per preferred share. The list of persons that obtain the right to participate in the annual meeting and collecting dividends for 2008 will be3 formed according to register data of holders as of June 4 2009.
Daily Stock review - June 03, 2009 (PDF)