Jun
20
Russian Stock Events - June 20, 2008
Filed Under Uncategorized |
This Thursday Russian stock market sloped down negative. However, despite the pressure from the failing European markets and oil prices – RTS did good, holding above 2400 points. The pressing was especially hard from oil stocks – almost all of sector’s representatives were hit bad, sliding below the rest of market. It is likely that such trend was formed out of decreased oil price. The market was topped by energy sector, just like in the past few days, due to soon elimination of UES.
RTS index dropped -0.08% and closed at 2400.84 points. Thursday’s influence toppers – stocks of LUKOIL (-1.19%), Sberbank (-0.44%) and VTB (-1.08%). On the other hand – the market was supported by stocks of Surgutneftegas (+0.25%), MMK (+4.18%) and Severstal (+0.98%).
Classic market’s turnover has formed 34.7 mn USD. Highest volumes were reached by the securities of: Sberbank (9.4 mn USD), LUKOIL (5.5 mn USD) and Gazprom (4.2 mn USD).
External factors are currently moving in various directions. US indices of lately have added value, whilst Asian markets drop down. We see no reasonable growth drivers to propel the Russian market in short-term, as market is locally overheated. Therefore, we do not exclude that today market could move downwards. Though the fall is unlikely to be significant. We think it would form 0.5-1%.
Main Stock events
Mosenergosbit’s sale failed.
FAS refused to satisfy a plea from IC KT Projects, asking to buy 50.9% of Mosenergosbit’s voting stock, reported the FAS yesterday.
Aeroflot: the beginning of the end.
Aeroflot Russian Airlines has upped its net 2007 IAS net income +21.4% to 313.4 mn USD, versus 2006, says the company.
Other Russian Stock news
Aeroflot: thoughts of Europe.
Aeroflot Russian Airlines is preparing to buy an asset abroad, looking optimistic upon the acquisition of Czech Airlines.