Jun
28
Russian Market of shares - June 27, 2008
Filed Under Trader’s view |
Yesterday Russian stock market was rather volatile, failing to form a single trend. Since the very morning the background of latter dropping oil has been changed by the growth of the indicator towards the noon. The market was rejuvenated by the appearing positive trend over the oil quotes. However, the negative influence off European markets sapped RTS’ positions, making it slide back to 2300 points. Yesterday evening, not long before the closing of Russian stocks – the positive statistics of US secondary housing market has been published. However, the negative opening of US stock markets, backed by fears of more of Citigroup Inc assets wrote off and Goldman Sachs’ downgrade of brokerage company’s ratings ruined it all: market began forming negative prerequisites for the next day.
The change of RTS was insignificant yesterday: -0.09%. The indicator closed at 2308.76 points. Whereas the top support of the index was formed by the stocks of metallurgy companies: Mechel (+1.8%), NLMK (+1.9%) and Severstal (+1.2%). The utmost negative influences in the dynamics of RTS were provided by stocks of: Gazrom (-0.14%), HydroWGC (-4.28%) and TMK (-6.67%).
The turnover of classic market of Thursday has formed 56.6 mn USD. The leaders on given value are stocks of LUKOIL (16.7 mn USD), Sberbank (12.7 mn USD) and Norilsk Nickel (6.4 mn USD).
Prior to this all foreign markets have demonstrated some significant negative dynamics. In particular – US indicators dropped over 3%, Japan’s Nikkei lost just over 2%. We think that given factors would contribute to further drop of Russian market which slopes through the fall trend. Today’s target is 2270 points of RTS.
Main Stock events
Gazprom to sell Gazprom Neft’s option.
Gazprom saves the plans on selling call option of Eni on 20% of Gazprom Neft, reported head of finance-economy department of Gazprom – Andrei Kruglov at press-conference of Thursday, reports Interfax.
LUKOIL summoned a meeting of shareholders.
In case planned tax privileges are introduced in 2009, LUKOIL’s investments could add +1.5-1.8 bn USD, reported the president of company Vagit Alekperov at annual meeting of shareholders, held yesterday in Moscow.
Sistema thinks about its investments into Svyazinvest.
«If the decision (on privatization of Svyazinvest) is made, we will seal the fate of the asset», – said Vitaliy Savelyev, the vice president of Sistema at the press conference on Thursday in Moscow. According to him, Sistema is waiting for government’s decision concerning Svyazinvest’s privatization during 2H 2008 and 2009. Sistema hopes to get a positive decision considering the problem and plans to participate in privatization, said Savelyev.
Other Stock news
Tatneft wants to worth 30 bn USD.
Annual meeting of TNK-BP’s shareholders.
The bread-baking NMTP.
Sistema confirmed 1Q financial results.
Melamed: “There is no reason to merge MTS and Comstar”.».
Russian Shares Market - June 27, 2008 (PDF)