Jun
17
Main Russian Stock Events - June 17, 2008
Filed Under Trader’s view |
After long four day weekend – Russian stock market started up at a slight growth of quotes. The market was likely to compensate for upwards dynamics of Thursday-Friday over foreign markets – DJIA added +1.9% during those two days, closely followed by Nasdaq Composite +2.5%, FTSE100 +1.4%. Do note that oil prices have remained almost the same throughout those two days on par with stock indices, which was obviously the primary reason for quotes to grow in Russia. However, oil sector was not idle for long and during Monday’s trades black gold’s price hiked to yet another record values, supporting Russian stocks at the back of failing US and EU indices.
RTS of the day rose +0.41% and formed 2366.32 points. The leaders of positive influence – stocks of Uralkaly (+8.03%), Gazprom (+1.32%) and Norilsk Nickel (+0.74%). The top negative influence of the indicator was formed by stocks of Mechel (-6.82%), Tatneft (-1.28%) and Hydro-WGC (-1.71%).
RTS turnover of Monday was rather humble and formed 30 mn USD. Turnover leaders of the day – Sberbank (11.7 mn USD), Gazprom (5.3 mn USD) and LUKOIL (2.7 mn USD).
Some light fluctuations around foreign markets could lead to weak dynamics at RTS today. Today we expect publication of macroeconomic data from US. During the second half of the day industry prices index is to be published, on par with number of new housings built, industrial production data and much more. We think that prior to that data – trades of Russian market are likely to be rather weak.
Main Stock events
Gazprom reviewed extraction volumes and confirmed investment plan.
Gazprom plans to achieve extraction of 650-670 bn cb m to year 2020, reported vice head of strategic development, head of long-term development of Gazprom – Sergei Pankratov during Monday’s briefing.
Other Stock news
TNK-BP: shareholders’ meeting could fail to be held.
Yesterday, one of the co-owners and head of TNK-BP board – Mikhail Freedman announced comprehensive commentaries regarding the ongoing conflict between British and Russian shareholders of oil company to the media.