Aug
5
The new trading week over Russian stock market started up quite negatively – as market began dropping value, virtually at whole range of stocks. Do note – external factors were neutral. Whereas market turnovers have proved to be rather high. It indicates that investors are seriously concerned with negative dynamics off Russian stock market, actively removing its funds off it, as RTS index pierced a psychologically important mark of 1900 points.
RTS of Monday has been reduced -2.36%, down to 1895.86 points. The stocks of: Sberbank (-5.52%), Gazprom (-3.59%) and Uralkali (-7.69%) have done most damage to index. On the other hand – index was supported by quotes of: TMK (+2.78%), Tatneft (+0.51%) and Aeroflot (+1.72%)
Classic market’s turnover of RTS was high and formed 126.7 mn USD. Monday’s leaders on turnover volumes – stocks of Sberbank (28.8 mn USD), Norilsk Nickel (18.7 mn USD) and Gazprom (18.2 mn USD).
We assume that Russian stock market is currently not in its best shape. External background is still negative, both around stock and commodities markets alike. Brent oil barrel price has been reduced below 120 USD. Thus – now Russian market has all the reasons to drop. On the other hand – there is nowhere left to fall, RTS already decreased -24% from its all time high.
Main Russian Shares events
Rostelecom: seasonal drop of effectiveness.
Rostelecom has dropped its RAS 1H 2008 sales down -0.5%, to 30.6 bn RUR. Net income has been expanded by +6.2% to 5 bn RUR.
Other Russian Shares news
Sibirtelecom reduces profitability.
RAS-compliant net income of Sibirtelecom in 1H 2008 increased up +3.5% to 2.1 bn RUR. Company’s sales of reported term have formed 13.7 bn RUR or +6.2 above the result of prior year.
STC: half year RAS results.
Sales of STC under RAS 1H 2008 rose +6.5% to 10.2 bn RUR. Operating income dropped -17.5% to 2.4 bn RUR. Whereas net income of 1H has been reduced by STC -21.7% to 835.1 mn RUR.
Volgatelecom draws results of first half.
Throughout 1H 2008 Volgatelecom expanded its RAS sales +5.7% versus past year’s 1H, to 12.9 bn RUR. Net income added +5.9% to 1.8 bn RUR.