Mar
28
On Thursday the trades at the market were in mainly positive mood. The external reasons for that were the same: the resumes growth of oil prices, good statistics on U.S. GDP and the respective growth of futures for the American indices, and also growth at Asia markets. The only event that cooled down the bulls was the open of European grounds, which was negative due to weak stats. The leading sectors were the following: power consumer, telecommunication, power energy. That was supported by a number of corporate event. So, in the morning information on the pretender on 25% of Pharmacy Chain 36.6 portfolio purchase came out. Due to that the quotes went up by 46%. That news reflected positively on the share market of the pharmacy retailers and producers – the branch index added 3%. The telecommunication companies were positively influenced by the rumor on reorganization of Svyazinvest, and also Fitch rating agency having confirmed the ratings of Sibirtelecom with the “stable” forecast. Power energy was climbing without any visible reasons likely due to other sectors’ falling behind. We should also outline metallurgy sector. Norilsk Nickel was dominating: its shares were adding after significant two day decrease. The shares of Raspadskaya were on the other side and were reducing against the background of messages on the company’s monthly loss, and also reduction of staff and introduction of less working hours per week. The quotes of GAZ went 28% high at the neutral news background, possibly due to coming restructuring of the business portfolio. PIK is climbing for another day in a row due to expectations of the construction company being bought by Suleyman Kerimov. On Thursday the shares of the company added 23.4%, the weekly growth totaled 74%. Rally in the shares of Uralkaliy continued – 15% adding, possibly on expectations of positive solution of the problem on accident in Bereznyaki. One of the leaders of the previous day was Gazprom Neft, lost 1.4%.
Main Stock news
Mechel delayed due date of bridge-credit for 1.5 bn USD for 2 months.
The group delayed due date of bridge-credit for 1.5 bn USD, taken for purchasing the British company Oriel Resources Ltd., for 2 months till May 15. Mechel intends to complete the negotiations with banks-participants of the syndicate in order to finance the given bridge-credit with the help of the long-term instruments.
Other Stock news
Ø AvtoVAZ will not pay off bonuses to company’s managers for 2008 and 2009.
Ø Okulov was dismissed.
Ø Non-audited sales of Fesco according to IAS for 2008 grew by 52.5%.
Russia financial market 2009 Daily review - March 27, 2009 (PDF)