Mar
21
Daily Russian Stock review - March 20, 2009
Filed Under Trader’s view |
Despite the serious overheating the Russian market continued moving up on Thursday, and the growth rates increased. We suppose the basic factor for market high is the oil price, which added 2 dollars per barrel at European markets (spot price of Brent oil) and closely tested the level of 50 dollars per barrel. Along with that RTS index in its turn tested the level of 700 points, reaching which missed just some tenths of a point. Significant adding was indicated in course of trades on the shares of the oil sector, and also on the sha\res of Sberbank. In case of the oil sector – the reason is clear – price growth of the oil. Sberbank might have upped following the ruble strengthening versus dollar and due to messages about state bail.
Main Russian Stock news
RF does not plan to exchange debt of RusAl to state banks to the share in the company.
RF does not intend to restructure the debt of RusAl to the state banks via entering the capital of the aluminum giant, announced the first vice-prime minister Igor Shuvalov. Also, he supposes, RusAl should not account on any additional support from the government.
Other Russian Stock news
Ø MTS wants to restructure credit.
Representatives of MTS carry out negotiations in London on restructuring the credit, gained by the company in 2006. Under the conditions of the credit it has to be covered via two transfers. The first one, amounting 630 mn USD should be provided in May 2009. The target of negotiations is to delay the deadline of transfer till 2012.
Daily Russian Stock review - March 20, 2009 (PDF)