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Wednesday – prior week’s last business day brought an expected fall upon whole Russian stock market. As primary factor to push quotes down – was the upcoming long and “special” weekend in Russia. More to that, US Fed were expected to make decision regarding the base rate. Considering the fact that possible change would only be used this Sunday – market players chose to have their money in their pockets, to evade unexpected events.

RTS of Wednesday lost -0.19% and formed 2122.5 points. The top significant influence upon the indicator was demonstrated by stocks of metallurgy companies – Mechel (-10.87%), Uralkaly (-5.86%) and NLMK (-5.05%). Index resistance was supported by quotes of: LUKOIL (despite of -0.11% fall), Sberbank (+0.46%) and Gazprom (+0.23%).

Market’s turnover has formed 39.7% mn USD last Wednesday. While top volumes were achieved by stocks of Norilsk Nickel (7.9 mn USD), LUKOIL (7.7 mn USD) and UES (6.7 mn USD).

The growth touched most primary foreign market throughout long weekend in Russia. US Fed have decided to cut base rut down by another 0.25 p.p., during the meeting of April 30th, which was likely to trigger climb upwards over foreign grounds. We assume that today Russian stock market will enjoy this event and should rise over the day. Therefore we expect for RTS to add about +1% during Sunday.

Main Stock events

NMTP IAS 2007 report.

Novorossiysk Morskoy Torgovy Port (NMTP) company has published IAS compliant audited and consolidated financial results of 2007 activities. Sales of the company versus prior year rose +74.33%, gross income expanded +118.12%, operating income rose by +119.56%.

Other Stock news

AvtoVAZ: quick glance at RAS.
AvtoVAZ net income of 2007 has formed 3951 mn RUR, exceeding the value of 2006, adding 1439 mn RUR or +57.3%. Sales of report period also exceeded results of 2006 (+expanding +2220 mn RUR or +1.5%) and formed 154.626 bn RUR.

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