Aug
14
The worsening background of external environment, such as the negatively closing primary foreign indices; was propelling Wednesday’s trades of Russian market to start through a slight fall. Aside of that – the criticism of US government of Russian government actions over Georgia-Ossetia conflict came up around the lunch break, further worsening the negative trend. Bad statistics of Eurozone pressured Russian stock market as well. Though the stocks to suffer the most were of oil & gas companies and banking sector, due to the outrunning growth of prices throughout last two days.
RTS of the day ended at 1776.06 points, losing -1.54% of value to its prior closing. Top significant negative influence over the indicator has been made by stocks of: Sberbank (-4.3%), LUKOIL (-4.05%) and Gazprom (-2.86%). Slight support for index has been made by securities of: NOVATEK (+6.4%) and Norilsk Nickel (+2.42%).
Wednesday’s turnover of classic RTS market totaled 43.8 mn USD. Whilst highest turnover volumes have been achieved by stocks of Norilsk Nickel (14.6 mn USD), Gazprom (13.4 mn USD) and LUKOIL (6.4 mn USD).
It seems as if domestic market had once more retargeted from domestic problems towards external factors. US indices had demonstrated a weak, yet positive dynamics yesterday. Asian markets have closed up at a slight downfall. We think that RTS dynamics – backed by these factors, would be moderate, whereas the opening of trades should undergo under a negative vector.
Main Russian Stock events and News
NMLK buys John Maneely, a pipe company for 3.53 bn USD.
NMLK has signed an agreement to buy John Maneely, a steel pipe manufacturing company from Carlyle Group and Zekelman family under 3.53 bn USD.
Russian Stock News in August 2008 (PDF)