Jun
26
Tuesday’s outsiders have proved to be the most attractive assets for purchase yesterday. Throughout the day the quotes of Gazprom and Sberbank have been raised the most. Whereas the stocks of Open Investments were hit by income fix, after an over 10% growth. Towards the middle of the day the growth of indicator has been exhausted, still waiting on the news from abroad, the market consolidated itself around 2300 points. The publication of second half on positive statistics of new houses sold in US and durable goods orders, adding a 2 hours positive push for the market, making the index add some value. Among corporate news do note the publication of GAZ financial report (IAS 2007). The report appeared above expectations; however the fears regarding the future, such as growing price of commodities and the slowing of world economy have brought group’s quotes down.
RTS of the day climbed +0.08% and closed at 310.73 points. The index was supported by stocks of Sberbank (+1.62%), Gazprom (+1.19%) and TMK (+11.1%). Leaders of the negative influence of Wednesday: stocks of LUKOIL (-1.22%), Uralkaly (-2.05%) and OPIN (-5.95%).
Market turnover of classic market has formed 42.1 mn USD. The top turnovers were formed through the stocks of Sberbank (11.7 mn USD), LUKOIL (6.9 mn USD) and Gazprom (5.5 mn USD).
Market’s expectations regarding interest rate have proved to be right: Feds chose to keep the rate unchanged, making a hint about no upcoming upgrade of the rate. Besides of that, Feds announced the decrease of risks hindering economic development. Such background quickly made foreign grounds add +0.5-1.4%. We think that Russian stock market of Thursday would follow world dynamics and get back to last week’s level.
Main Stock events
Tatneft’s report of 2007: concessionary taxation helps.
Tatneft’s net income according to US GAAP report of 2007 formed 43.279 bn RUR, which is higher than the last year by +45.4%, says company’s representatives. Net income of the company appeared to be higher by +8% the forecasts and it should be mentioned that the expected results of market players formed 40.062 bn RUR.
Acron IAS 2007 report.
Acron earned 2.3 times more IAS-compliant net income versus 2006 to 5.67 bn RUR, says the report of the company. Company’s sales upped +31.7% to 31.11 bn RUR, gross income upped +52.6% to 12.16 bn RUR, operating income increased +105.6% to 7.65 bn RUR.