Sep
25
Russian Stock Market - September 25, 2008
Filed Under Trader’s view |
Russian market trades went whilst backed by external positive influence. Wednesday’s top market-maker was Warren Buffet, who announced its investment of 5 bn USD into Goldman Sachs. The resulting 30 minutes of trades made RTS add +3.3%. And obviously afterwards the banking sector has demonstrated a rise: Sberbank stocks have increased over +6%, VTB added +7%. Banks quotes were also supported by VTB’s IAS-compliant financial statement for 1H 2008, which exceeded market’s forecasts. Aside from the factors mentioned above, the market was supported by the price of oil, adding an average of +1.5 USD per barrel yesterday. The quotes of oil & gas sector have reacted by a +2-5.5% growth. Some bad dynamics appeared over Raspadskaya’s stock, it seems as if investors decided to fix the income, gained fast in just 3 last days. Do remember that company’s equity value upped +18% since the week’s beginning.
Yesterday RTS increased +3.4% to 1315.43 points. The significant support for the indicator has been provided by stocks of Sberbank (+5.49%), Gazprom (+5.52%) and Rosneft (+3.78%). The quotes of Mechel (-4.2%), Severstal (-5.11%) and Raspadskaya (-3.57%).
The classic market’s turnover of RTS has formed 23.2 mn USD. Wednesday’s top turnovers were achieved by stocks of Sberbank (6.4 mn USD), Gazprom (4.9 mn USD0 and LUKOIL (4.7 mn USD).
Today we expect a moderate dynamics of RTS, backed by neutral external background: yesterday DJ closed at a slight decrease of -0.27%, NASDAQ on the other hand has increased +0.11%. The dynamics of Asian indices was also mixed and various. After yesterday’s growth, the trades are likely to go smooth today. The initial claims statistics and new house sales in the US is expected to be published in second half of the day, and may prove an influence upon Russian trades towards the closing.
Main Russian Stock events
The approval of capacity market’s target model delayed to March 2009.
The approval of a target model for capacity market is delayed to till March 2009, Dmitry Ponomorev, the head of “ATS” and “Sovet Rinka” reported during V professional energy forum, Interfax reported.
Potanin to get 2% of Norilsk Nickel, a stake in Russia Petroleum, Prokhorov to gain 30% in Polyus Gold.
The former partners in Interros – Vladimir Potanin and Mikhail Prokhorov have singed a protocol, set to divide their assets, which fate was a mistery during the long “divorce” of two businessmen. According to Interfax, Prokhorov is to get Potanin’s stake in Polyus Gold. Therefore – Prokhorov is set to get a formal control in the largest gold-mining company in Russia, which is already under his operating control. Potanin on his part would reinforce its already strong positions in Norilsk Nickel, gaining 2% more of company’s stock. Aside of this – the division of sales would bring him 25.8% in Russia Petroleum and Agros agricultural company. The uncertainty still haunts the future of Open Investments developer firm.
Daily trader’s view - September 25, 2008 (PDF Stock Report)