Mar
18
Daily review - March 18, 2009
Filed Under Trader’s view |
On Tuesday the Russian market continued the serious climbing. Pre-trading hours indicated only ruble strengthening as a serious growth reason, while the usual indicators (U.S. and Asian indices and oil price dynamics) were likely slightly negative. Nevertheless, from the very beginning of trades the market directed up and bulls thirst was quenched only at 667 points level of the RTS index. We assume that was also supported by oil price raise after the beginning of trades at the European markets. Oil and bank sectors looked better than the market. Along with that AvtoVAZ seemed to be a lot worse – the head of the company outlined his expectations of profit (or should we say loss) for the previous year, and also offered to conduct additional share emission, which was taken negatively be the market.
Main Stock news
LUKOIL assures that dividends are coming.
LUKOIL does not plan to refuse from 2008 dividends, stated the chairman of the company’s board of directors Valeriy Grayfer to the journalists, imparted Interfax.
Other Stock news
Ø The government of RF considers the possibility of AvtoVAZ’ additional emission.
The governmental commission on economic stability provision, headed by the first vice prime minister Igor Shuvalov, considered the possibility of additional emission by AvtoVAZ at the meeting on Tuesday, announced Boris Aleshin.
Daily Stock review - March 18, 2009 (PDF)