Mar
30
Financial Daily Stock review - March 30, 2009
Filed Under Trader’s view |
The end of the previous trading week was negative at the Russian market. That was due to a number of factors. First of all, dollar strengthened. That caused oil price lowering, and correction in the commodity sector. Due ring the day the shares of the oil-and-gas companies were worse than the market; decrease was headed by Surgutneftegas, LUKOIL and Rosneft. Gazprom’s RAS report also supported oil-and-gas companies’ quotes down due to the report indicating reduction of dividend payments. Also negative was in the bank sector, mostly due to the leading international rating agencies having lowered ratings of several Russian banks. Rally on GAZ shares continued in the second echelon – the shares added more than 20% on expectations of coming restructuring of loans, as for PIK – week’s profits were gradually fixating. American indices futures dynamics, along with the course of trades in Europe did not improve investors’ mood. Negative stats on GDP of UK and on income and spending by U.S. citizens were responsible for the negative at the foreign markets. The external background pushed the RTS index lower.
Main Stock news
Gazprom reduced RAS net profit by 2.1 times and will cut off dividends to 1.28 RUR.
Net non-consolidated profit of Gazprom according to RAS reduced in 2008 by 2.1 times versus 2007 estimate and totaled 173 bn RUR, imparts the message of the company.
Other Stock news
Ø CPRP and PNPP closed 4Q 2008 with loss by RAS.
Net loss of CPRP in 4Q 2008 totaled 401.040 mn RUR versus net profit in 3Q 2008 amounting 305.093 mn RUR. Net loss of PNPP in 4Q 2008 totaled 186.93 mn RUR versus 423.308 mn RUR of net profit in 3Q 2008.
Daily Stock review - March 30, 2009 (PDF)
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