Russian Stock - Market today. Today’s market has been reduced under MICEX and RTS -0.9% and -0.8% respectively. Much above the market were stocks of Polyus Gold, currently awaiting the buy-out procedure. Towards the day’s end, despite of bad statistics on US Durable Goods Orders, the market took on a growth path.
Market tomorrow. The market itself awaits a positive decision of US congress on support of failing financial system. Tomorrow’s dynamics depend strongly on this decision.

Russian Bonds

Market yesterday. Today the secondary market was virtually non-existent. Some deals appeared throughout the corporate segment, yet at an incredibly low price. Many investors continue to “cut short”. This background made state issued bonds sector look much bright. Regarding the funding cost we could say that Sberbank and VTB were “giving the money away” at 12% per annum, for day and for week alike. The interbank’s market low rates were also unrepresentative, as they indicate only one thing – large banks need no extra funding, yet the limits for everybody else are temporary closed.
Market tomorrow. Rumors have it that large banks plan on reinstating their REPO operations and return to the secondary market earlier next week. This brings some optimism. Now everybody wait, although this does not influence the prices in any way.

Russian Stock with No comments

Tatneft sales of 8 months beat 178 bn RUR (Interfax)
TGC-2 IAS 2007 losses formed 1.8 bn RUR (Interfax)

STC expanded IAS-compliant net income in 1H 2008 +13% to 813 mn RUR (Interfax)
Goldman Sachs reduces Raspadskaya’s target -1%, rating – “HOLD” (Interfax)
Dixy’s sales of 8 months 2008 up +48%, to 1.29 bn USD (Interfax)

Russian Stock Daily results - September 25, 2008 (PDF Report)

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