May
21
Daily Stock review - May 21, 2009
Filed Under Trader’s view |
On Wednesday the rally continued at the Russian exchange market. The main driver of growth was the commodity factor. At the background of expectations of supply decrease in the U.S. after the fire at the Texas refinery the price of the “black gold” exceeded the level of 60 USD. As a result the shares of the oil-and-gas sector added in price 4% average. Besides high demand still is for the shares of Sberbank, which was the leader on the adding value - +10%. The main reason of growth was the statement of Alexei Ulyukaev, in which the first deputy chairman announced that the bank would not need the additional emission this year. Besides, the telecommunication sector looked good also due to growth at the background of rumor on reorganization of Svyazinvest. The common positive background was firmed by ruble strengthening versus bi-currency basket.
Main Stock news
Gazprom might reduce the investment program for the current year on behalf of financial investments.
The operating variant of Gazprom’s investment program for 2009 forms 921 bn RUR, including the capital investments – 700 bn RUR and 221 bn RUR – long-term investments. 30% cut-off from the financial operations is being considered. So, the financial investments will be reduced and after their correction they will total 155 bn RUR.
Other Stock news
Ø Belon upped extraction of coal by 38% in 1Q 2009 and gained net loss by RAS.
In January-March 2009 Belon group upped the extraction of coking and energy coal by 38% to 1.409 mn tons versus the similar period of 2008. In 1Q 2009, according to the non-consolidated report by RAS, the company gained 731 mn RUR of net loss versus 642.5 mn RUR of the net profit for the similar period of the previous year.
Daily Stock review - May 21, 2009 (PDF)