Jul
23
Russian Stock Market - July 23, 2008
Filed Under Trader’s view |
On Tuesday Russian stock market has showed a negative dynamics. Taking into account the market turnovers, in trades took part only small investors and among the main issues were external stock and commodity markets. However, the situation at these markets was not so sound – European stock grounds and oil prices were felling down. As a result, almost all Russian stocks have a negative dynamics. The growth can be seen in a small number of stocks, including the preferred shares of Transneft, which can increase in price, due to old news.
In the end of the trade session, RTS code decreased by -0.96% and formed 2123.66 points. A negative influence was provided by the shares of Sberbank (-3.03%), Norilsk Nickel (-3.52%) and NLMK (-4.08%). The support was provided by the preferred shares of Transneft (+2.27%), common shares of Rosneft (+1.3%) and Severstal (+1.77%).
The rate of turnover of RTS Classic market was not high and totaled 33.2 mn USD. The best results showed the securities of LUKOIL (6.5 mn USD), VTB (5.9 mn USD) and Sberbank (3.2 mn USD).
The current situation at Russian stock market is very unstable. There is a strong possibility of further decrease, because 2 main technical indices were broken trough. We think that decrease of oil prices caused such an unsound situation, but growth dynamics at USA stock market can slightly support Russian stocks.
Russian Stock Market events
Acron’s stock offering formed 120-150 USD per share.
Price bracket of Acron’s shares formed 12-15 USD per GDR and 120-150 USD per share, announced Interfax.
Other Stock news
MTS is under tax claims.
Russia’s Federal Tax Service is claiming 1.13 bn RUR in back taxes from MTS, where the claims to 2005-2006. “MTS disagreed tax claims and intends to entrench its position, according to Russian law and regulations. It will not have a negative effect on company’s finances”, – says MTS’ statement.