Apr
11
On Thursday the growth rates of the Russian share market were quite remarkable. The RTS index went up from the very open and by the end of the day added more than 6%. That was supported by a number of factors, mostly external ones. First of all the oil prices were climbing since morning at the background of expectations of fuel demand recovery in the U.S. Second, the trade balance and labor market stats of the U.S. turned out to be better than expected. Besides, rumor appeared on the market that the leading American banks passed the “:stress-test” on the financial stability and the American Wells Fargo bank expects profit by the end of 1Q 2009. More to that the Chinese automobile park grew to all-time high levels in March, getting close the American market in natural terms. Those facts leaded to upping of futures for the American indices, and the Russian indicators followed and overcame important psychological borders: 900 points of MICEX and 800 points of RTS. The main range of liquid shares added 6% to 12%, and rally was headed by the shares of Sberbank and Norilsk Nickel. The oil-and-gas sector added average 6.5-7%.
Financial advice about stock
Comstar performed good results for the previous year.
Sales of Comstar – United TeleSystems, JSC according to US GAAP totaled 391.9 mn USD in 4Q 2008, which is 8% higher than the estimate of the similar period a year before. The net profit totaled 59.2 mn USD, which is by 14% higher than the similar estimate of 2007.
Other news
Ø Gazprom pessimistically estimates the demand and its own extraction.
Crisis will force Gazprom to reduce extraction by 10% within the following 4-5 years.
Ø Rosneft does not expect changes in oil and oil production distribution in 2009.
Rosneft does not expect change of volumes of oil and oil products selling at both: foreign and domestic markets in 2009.
Ø Transneft works on gaining additional 4%.
Transneft directed offers to Federal Service on Tariffs on upping the tariff level for oil transfer via pipeline system by 4%.
Ø State companies’ investment programs corrections have been approved. As for private companies – uncertainty remains.
RF government supported corrected investment programs of the state power energy companies, stated the minister of power energy in RF Sergey Shmatko by the end of ministry cabinet session on Thursday.
financial advice about stock Daily review - April 10, 2009 (PDF)