May
14
Russian Stock News - May 14, 2008
Filed Under Trader’s view |
Just as we have expected, the Tuesday of Russian stock market started up major, whilst backed by positive dynamics of foreign indices. However, some 30 minutes after trades began – market players have decided to fix their income, as RTS lost another 30 points before noon, dropping below 2310 points. Nevertheless, the supporting dynamics by US statistics at second day’s half pushed the market up, compensating for the day’s fall. Just like before, stocks of oil & gas sector appeared above general market. Banking sector’s shares were more moderate due to certain tensions over Eurozone’s financial sphere.
RTS of Tuesday rose +0.79% and closed at 2339.57 points. Surgutneftegas (+6.16%), LUKOIL (+1.17%) and Rosneft (+2.68%) proved the top support of RTS growth. Sberbank (-0.57%), Uralkali (-2.64%) and Gazprom (-0.14%) lost some of its positions.
The trades at classic market were rather active and formed a total of 77.9 mn USD. Yesterday turnover leaders: Sberbank (17.7 mn USD), UES (14.1 mn USD) and Gazprom (13.1 mn USD).
The “white candles” dominate the chart for past few days, proving more clearly that correction is at hand. The absence of solid external trends, insignificant fluctuations at US and Asian stock indices – could prove to be a reason to fix income by investors. We do not exclude that after 7 day rally RTS may lose 1-1.5%.
Main Stock events
Gazprom Neft: dividends down to improve development strategy.
Gazprom Neft’s board of directors recommended its shareholders to approve dividends of 2007 in 5.4 RUR per one common share, reports RBC citing the company. Therefore, if shareholders approve these dividends, Gazprom Neft could spend 25.6 bn RUR for dividends of 2007. During 2006 Gazprom Neft paid 8.08 RUR per share, whilst total dividends value formed 38.3 bn RUR.
Other Stock news
KAMAZ’s RAS 2007 report.
KAMAZ has expanded its RAS compliant sales up +35% above prior year, achieving a total of 91 bn 291 mn RUR – states company’s report. In its latest message KAMAZ announces confirmed data on net income: this value has formed 4 bn 819.9 mn RUR in 2007, growing 6.6 times over result of 2006.
PRISCO’s RAS report of 2007
PRISCO earned 80.595 mn RUR in 2007, under RAS, reports the company. Back in 2006 PRISCO’s net income formed 49.084 mn RUR. Therefore, this value expanded +64%. Though sales of the shipping company have formed 660.086 mn RUR in 2007.
Russian Stock News - May 14, 2008 (PDF)