May
7
Russian Stock Market - May 7, 2008
Filed Under Trader’s view |
During Tuesday Russian stock market was moving under influence of external factors. The start of trades was flagged by market growth, still backed by oil prices. After European grounds opened doors and dropped down, Russian stocks have decided to follow. However, the so called “oil-factor” was obviously the determining factor – as Brent oil barrel reached a price of 120 USD, after optimistic forecasts of Goldman Sachs, leading Russian market to growth.
RTS of the day climbed up +0.56% and stopped at 2153.32 points. The growth of index was triggered through quotes of: LUKOIL (+1.84%), Gazprom (+1.14%) and Uralkaly (+3.64%). While the opposite side of the market was manned by stock of: Sberbank (-1.26%), Rosneft (-0.51%) and Norilsk Nickel (-0.37%).
RTS classic market turnover reached 57.2 mn USD over Tuesday. The top three volumes were occupied by securities of: Sberbank (25.2 mn USD), UES (8.8 mn USD) and Gazprom (4.1 mn USD).
We do not exclude for Russian market to move within a growing trend today. All of primary factors are positive towards our stocks – such as growth over American stock indices lately, on par with serious rise of oil prices. Aside of this, another support could be provided by approval of Russian monopoly’s tariffs growth by the government.
Main Stock events
Rostelecom: 1Q “all green”.
Rostelecom net income of RAS in 1Q 2008 has formed 2.8 bn RUR, dropping 5% below prior year’s 1Q, reports the company. Sales rose +1% to 15.4 bn RUR.
Other Stock news
Centertelecom disappoints: OIBDA margin down -7 p.p. per quarter.
RAS compliant sales by Centertelecom in 1Q have formed 8.2 bn RUR, adding 5.03% to past year’s results, notes company’s message. Expenses of Centertelecom expanded +15.69% to 6.4 bn RUR.
Daily trader’s view - May 7, 2008 (PDF)
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