Jul
22
Main Russian Stock News — July 22, 2008
Filed Under Trader’s view |
The beginning of trades can be characterized as natural. Oil quotes showed little changes, the fund market also closed without any surprises. The given tendency appeared to be during the trades and as a result, Russian stock market changed under the influence of external factors. The beginning of trades started with some corrections, after the fall on Friday and during the afternoon the market showed a slight growth. The prices of Transneft’s preferred shares demonstrated the highest growth on Monday. We do not exclude that the given growth was caused by the information, concerning the results of annual shareholders’ meeting, which was held on July 16th. Among positive aspects was the rate of confirmed dividends, which will be distributed according to 2007 results.
RTS of the day increased by +0.41% and closed at 2144.18 points. A positive influence was provided by securities of: LUKOIL (+1.14%), Gazprom (+0.87%) and Transneft’s preferred shares (+10.92%). A negative effect was sprayed by stocks of Silvinit (‑5.47%), Uralkali (-2.78%) and Severstal (-4.13%).
The turnover of RTS classic market was not too high and formed 48.3 mn USD. The highest transaction volumes was provided by stocks of Sberbank (7.7 mn USD), LUKOIL (7.4 mn USD) and Norilsk Nickel (2.6 mn USD).
We think that the fund market could show a slight growth. There some favorable factors for Russian securities in the current situation, especially for oil prices, which increased by 2 USD. We do not exclude that RTS’ growth can form 1% during today trades.
Main Russian Stock events
Vimpelcom marching South-East Asia.
Vimpelcom purchased 90% stake of Altimo’s company - Sotelco, which has a license of cellular services within GSM-900 and GSM-1800 rate in Cambodia. The deal formed 28 mn USD. The company plans to launch the cellular network, approximately during 9 months. Capital investments in the project can form about 200 mn USD.
Gazprom’s 1Q 2008 US GAAP report.
Gazprom Neft in increased net income, according to 1Q 2008 US GAAP report, by 110.0%, to 1.411 bn USD, in comparison with 2007 results, says company’s report.
Other Rusian Stock news
LUKOIL decreased extraction rate.
TGC-1’s 2007 IAS report.
NMTP: weak 1H results.
FESCO’s offering in full volume.