Mar
19
Daily Stock review - March 19, 2009
Filed Under Trader’s view |
Despite the positive that was before trades beginning on Wednesday, the Russian share market closed in slight minus. Till noon the market grew and the RTS index reached the levels of early this year. However the local overheating we suppose was too high – the RTS index climbed by almost 29% in less than a month without any significant corrections down. In the second half of the trades reasons for dropping appeared. The main foreign markets slipped down and the oil has dropped also due to news on U.S. supplies. As a result almost all the Russian oil sector went low, pulling all the liquid shares down also. Only Sberbank managed to stay positive. Along with that interesting dynamics was indicated in the sector of the second echelon shares, GAZ particularly. On Wednesday information came out that Sberbank might support GAZ and conduct restructuring of its loan, which would lead to quotes upping of the motor car producer by almost 25%. Besides, NOVATEK added in price significantly due to report expectations.
Main Russian Stock news
NOVATEK reported for 2008 by IAS.
Net profit of NOVATEK by IAS grew in 2008 by 22.2% versus 2007 to 22.9 bn RUR, imparts the message of the company. That is higher than the consensus forecast on the market, which totaled 22.4 bn RUR, but lower than we expected. In 4Q 2008 the company showed profit decrease by 1.9 times versus the similar period last year, the net profit totaled just 2.66 bn RUR.
Other Russian Stock news
Ø WGC-2 does not exclude the additional emission for investments in 2012.
WGC-2 might need “insignificant additional emission” in 2012 for attracting investments, imparted the director general of the company Stanislav Neveytsin to Interfax.
Ø Sberbank is ready to meet the interests of GAZ.
Sberbank of RF agreed to restructure the arrearage of GAZ, stated the president – chairman of the board of Sberbank German Gref to the journalists on Wednesday.
Ø Aeroflot reduced passenger traffic by 16% in February.
Aeroflot – Russian airlines, JSC reduced passenger traffic in February by 15.8% to 534. 4 thousand passengers, imparts the statement by the company.
Daily Stock review - March 19, 2009 (PDF)