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Russian Stock Price review - July 30, 2008
Filed Under Trader’s view |
Russian stock market followed world’s grounds, opening at a significant fall, and losing over -1% in the morning. For the first tie since late January index hit below 1900 points, landing at 1880 points after a free-fall. Afterwards, however, market stabilized itself. At the second half however, Russian market received support by statement of Igor Shuvalov, who ensured that “YUKOS case” will not repeat itself over Mechel.
RTS of the day lost -1.68% and closed at 1896.28 points. The top negative influence over the indicator has been provided by stocks of: Sberbank (-5.69%), LUKOIL (-4.93%) and Polyus Gold (-7.4%). Rosneft (+1.5%), Norilsk Nickel (+2.93%) and Mechel (+10%) felt themselves better than rest of market.
Classic market’s turnover of RTS has formed 39.3 mn SUD. The highest volumes have been achieved through securities of: Gazprom (7.8 mn USD), Norilsk Nickel (7.2 mn USD) and Sberbank (6.1 mn USD).
We do not exclude that after a six-day fall Russian stock market may bounce off. Some additional stimulus for RTS index grow is positive closing of foreign grounds.
Main Russian Stock Price events
CTC Media: 1H results.
CTC Media upped US GAAP-compliant net income over 2Q 2008 +59% to 48.8 mn USD. Net income of the company for first half has formed 90.5 mn USD or +59% above similar term of 2007.
Other Russian Stock Price news
NOVATEK failing extraction results of 1H 2008.
NOVATEK’s gross extraction of 1H 2008 has achieved 15.19 bn cb m of natural gas and 1.24 mn tons of liquid hydrocarbons. In comparison with 1H 2007 the extraction of natural gas upped +1.9%, liquid hydrocarbons added +2.4%, states the press-release by company.
Daily Russian Stock Price review - July 30, 2008 (PDF)
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