Sep
28
Russian Stock - Market today. Thursday’s trades demonstrated a slight fall at Russian stock market, RTS and MICEX decreased by -1.5% and -1.8% respectively. The companies of ferrous metallurgy demonstrated highly positive results – Polyus Gold and Norilsk Nickel added +19% and 3.5% respectively. A negative influence upon banking sector was provided by decreased rating of Russian banks by Moody’s agency.
Market tomorrow. A further situation at the market will depend on the stabilizing measures, which will be applied by USA Congress.
Russian Bonds
Market yesterday. The results of the day indicated slight changes. There were few transactions at spot market. A poor growth of underestimated securities, especially from Lombard list, can be observed.
Market tomorrow. The situation, concerning the activity of commercial banks at REPO market will be known on Monday. However, we do not expect any positive news. The increased number of the participants will have an effect on misbalance, caused by panic sales over last days.
Russian Stock Market without comments
According to US GAAP 2Q 2008 financial report, Megafon’s net income increased by 22% (Interfax).
Polyus Gold’s board of directors will look for an opportunity to purchase 50%+1 stocks of KazakhGold. KazakhGold confirmed the negotiations, concerning blocking stake of the company (Interfax)
“Nafta Moskva” offered Potanin to purchase its share in Polyus Gold (Vedomosti).
Washington Mutual (the 3rd largest bank in USA) bankrupted, J.P. Morgan will buy the major part of its business (Interfax).
Chubais entered the international board of J.P. Morgan (Interfax).
Daily Russian Stock results - September 26, 2008 (PDF)
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