Mar
12
Daily Stock review - March 12, 2009
Filed Under Trader’s view |
Wednesday Russian Stock market was going through correction after significant growth the day before. The reasons for that actually were the same – the raw material factor. Only this time it was negative: the oil prices were slipping most part of the day against the background of expectations of fuel commercial supplies upping in the U.S. Due to that the oil sector looked weaker, the shares of the companies within the sector lost 0.4-4.7%. Besides the oil shares the negative came from the metallurgy sector. So the shares of Norilsk Nickel lost more than 4% due to approval of the companyЎЇs treasuriesЎЇ selling. Among the corporate events we should indicate output of 2008 reports of MTS and Severstal. Against that background the shares of MTS added 1.25%. The quotes of Severstal on contrary reduced versus the deal yesterday by 6.25%. GazpromЎЇs shares were bought actively at the neutral news background.
Main Russian Stock news
IAS of Severstal – first sign of last year.
Severstal gained 1.208 bn USD of net loss in 4Q 2008 by IAS versus net profit the year before. CompanyЎЇs net debt upped from 1.65 bn USD as of December 31, 2007 to 4.78 bn USD as of December 31, 2008.
MTS report: full ahead to the past.
Net profit of Mobile Telesystems, JSC (MTS) by US GAAP totaled in 4Q 2008 145.5 mn USD, imparts the message of the company. Sales reached the level of 2.4 bn USD, OIBDA upped to 1.2 bn USD.
Other Russian Stock news
ЁЄ Gazprom is getting ready to purchase 20% of Gazprom neft.
Gazprom has all it takes to execute the two year option of purchasing 20% of Gazprom neft. However, according to Vedomosti, the funds for that are reserved neither in 2009 investment program, nor in the forecasted plan for 2010-2011.
ЁЄ AvtoVAZ will cut automobile production in 2009 in 40%.
AvtoVAZ, JSC plans to produce about 590 thousand vehicles and kits in 2009, which is 40% less than last year, imparted the press-cutting service to Interfax.
ЁЄ Change of AeroflotЎЇs director general might take place late March 2009.
The expected change of RussiaЎЇs largest airline – Aeroflot – Russian airlines, JSC – director general might be conducted till the end of the month.
Daily Russian Stock review - March 12, 2009 (PDF)