Russian Stock Market today. Today’s trades demonstrated slightly negative results. The market was boosted by stocks of energy and metallurgical companies. Falling oil prices caused a destructive effect on securities of oil companies. Moreover, Alexey Kudrin, the Minister of Finance said that there are serious risks for USA economy and as a result of possible fall of oil prices in future, providing a negative activity at the market.

Market tomorrow. We do not forecast any positive changes for tomorrow. Global markets and oil prices could continue falling down.

Russian Bonds Market

Market yesterday. Today Moscow interbank bid rate are still high (12-15%). A limited number of banks provide repo deals (Sberbank, VTB, and Bank of Moscow). The major activity at the market is sales. The players are trying to sell their portfolios under any prices. There was a slight demand on short 1st tier securities: FSK-3, Russian Railways-5, Moscow Region-6, Moscow (various issues), Telecoms (CTC-4, STC-4).
Market tomorrow. Tomorrow we do not expect any serious changes. In our opinion, the most attractive could be securities from Lombard list with profitability more than 20% per annum.

Russian Stocks with No comment

Social and economical development of RF was approved by the government – Elvira Nabiulina, Minister of Economic Development)
According to US GAAP 2007 financial report, IBS’ net income added +42.3% - (company’s report)
Over January-July Federal budget surplus of RF increased to 2.119 trn RUR – (Rosstat)
As of late October 1st, SWF formed 48.68 bn USD, reserve fund – 141 bn USD – (Ministry of Finance)
Magnitogorsk Iron & Steel Works do not exclude buyback of its stocks – (Interfax)

Russian Stocks and Bonds (PDF)

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