Aug
28
Russian stock market — August 28, 2008
Filed Under Trader’s view |
Wednesday’s trades started with sound dynamics. It was achieved due to technical factors (the code reached the lowest level) and positive trends at foreign grounds and commodity markets as well. The morning growth formed 1.8% and exceeded 1600 points. We do not exclude that it was boosted by government’s statements, concerning the recognition of South Ossetia and Abkhazia political independence, and also by fearlessness of possible USA’s and UN’s sanctions towards Russia. However, the growth has no longer taken place: the major part of the day RTS code has floated near 1560 points. A new wave of retracement was caused by European grounds. However, it was not the only factors of code fall. RTS managed to come through the fall at 4 PM and finished the trades with positive value, after 3 days of strong retracement. Among the leader were the shares of oil & gas companies. The reasons are: a growth of oil prices, good forecasts on LUKOIL’s and Rosneft’s financial report, which will be published on Friday and Monday respectively. The shares added 3% due to these forecasts.
According to the results of the day, RTS code increased by +0.63% and formed 1589.05 points. The shares of oil companies – LUKOIL (+3.96%), Rosneft (+3.25%) and Gazprom (+0.85%) have a positive effect on RTS. A negative influence was provided by stocks of TMK (-9.46%), Gazprom Neft (‑11.11%) and Sberbank (-1.32%).
Classic market’s turnover of RTS has formed 46.5 mn USD. The securities of Sberbank (20.1 mn USD), Gazprom (9.8 mn USD) and LUKOIL (5.3 mn USD) have reached the highest turnovers.
It should be mentioned that today’s trades at Russian grounds can demonstrate a positive motion as well. RTS can be supported by shares of LUKOIL, Rosneft and telecoms. Telecom’s stocks will be supported by expectations, concerning a growth of tariffs on communications.
Main Russian Stock Market events
KAMAZ’s IAS 2007 financial report.
According to IAS 2007 report, KAMAZ’s consolidated net income increased by 90%, to 7.868 bn RUR vs 2006 results, says company’s statement.
Other Russian Stock Market news
Gazprom: FAS to distribute free gas transmission capacities.
ChTPZ’s net income increased by 22% under IAS 2007 report.
Access exercises put option on Comstar’s stocks.
AvtoVAZ: shopping at automobile market.
AvtoVAZ shifted terms new model production based on Renault.
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