Sep
29
Russian Stocks - Market today. Monday’s results demonstrated a fall of MICEX and RTS of 5.5% and 7% respectively. Due to the fact that implementation of stabilizing measures for USA banking sector was conducted in unexpected manner, negative dynamics can be seen at all global grounds. A fall of oil prices strengthened a negative effect on Russian stock market. As usual, the stocks of Polyus Gold have boosted Russian stock market with a growth, forming about 20%.
Market tomorrow. The further situation at Russian stock market will depend on dynamics at global grounds.
Russian Bonds
Market yesterday. Today Moscow interbank bid rate increased due to taxes, paid late this month. However, it has a slight effect on repo market – Sberbank and VTB continued to conduct repo deals of 1st tier securities under 12% per annum. A possibility of funding under 2-3 tiers bonds was very temporarily – under 15-22% per annum. The major participants at secondary market were sellers, who looked for free liquidity. The buyers can be seen very rarely in deals with 1st tier securities. A slight growth of activity can be seen in state papers sector, where occurred buy orders.
Market tomorrow. We think that an activity at federal loan bond could take place on Tuesday. Regarding the return of buyers to corporate and municipal bonds and creditors to repo market, we can say that it can be at least in the middle of this week.
Russian Stock Market with No comments
Transneft’s net income under IAS 1Q 2008 formed 40.4% (Interfax)
LUKOIL consolidated 95.4% of TGC-8’s shares (Interfax)
According to IAS 1H 2008 financial report, Mosenergo’s revenue formed 764 mn RUR vs last year results (Interfax)
Shares buyback: Norilsk Nickel’s subsidiaries purchase 8.7% of company’s shares. Severstal’s subsidiary bought GDR of the head company for 1.8 mn USD (Interfax)
Polyus Gold offered 7.95 USD and 0.298 of Polyus Gold’s share per 1 share of KazakhGold (Interfax)
Daily Russian Stock Market results - September 29, 2008 (PDF)