May
30
This Thursday Russian stock market had demonstrated a significant growth of quotes. Almost all liquid stocks have expanded value; however a much more serious growth was experienced by the quotes of LUKOIL and Norilsk Nickel, after companies’ much more important news. LUKOIL for example reported the opening of new deposit in water area of Caspian Sea, boasting reserves of 100 mn tons. Whereas Norilsk Nickel could have been supported by a positive feedback on possible unification of assets by Vladimir Potanin (one of the largest shareholders of Norilsk Nickel) and Alisher Usmanov.
RTS has expanded by +1.76% and finished the day at 2439.03 points. The best support of index climb was provided by stocks of: LUKOIL (+4.48%), Gazprom (+1.47%) and Rosneft (+1.8%). Some obstacles for index were provided by quotes of: Uralkali (despite of +0.17% growth), Hydro-WGC (-0.78%) and Magnet (-1.72%).
RTS classic market turnover of Thursday has formed 82.5 mn USD. Yesterday’s turnover leaders are: UES (22.7 mn USD), Norilsk Nickel (18 mn USD) and LUKOIL (11 mn USD).
Today’s external factors are quite moderate and neutral for Russian stock market. Most of primary foreign grounds have undergone a slight climb. Oil prices, however, have dropped significantly. Due to noted factors – quotes of Russian market could change, but lightly.
Russian Stock events
Sale of WGC-1 to strategic investor failed, company will move to SPO.
UES has declined the price offered by the buyer of WGC-1, thus the deal will not be finalized, reported the head of UES media relations department – Margarita Nagoga to Interfax.
Other Russian news
LUKOIL found new deposit at Caspian.
LUKOIL and Gazprom have opened a new large condensed gas deposit at center of Caspian shelf, announced LUKOIL – cites Interfax.
Russian Stock News Daily trader’s view - May 30, 2008 (PDF)