Jul
31
Wednesday’s stock market of Russia is starting to rejuvenate, after a week-long fall. RTS is supported by positively expanded foreign indices. Mechel stocks restore themselves second day in a row, compensating almost a half of its 44% fall, following the critics of premier-minister. Metallurgy and banking sector seemed well too. Banks could have also been supported by statement of US Fed regarding prolongation of emergency credits up to late January.
RTS of the day rose +2.78% and closed at 1949.03 points. Some significant help for index dynamics has been provided by stocks of: Sberbank (+5.32%), LUKOIL (+4.04%) and Norilsk Nickel (+8.29%). Insignificant negative resistance was formed by quotes of: Gazprom Neft (-3.88%) and Raspadskaya (-2.86%).
The turnover at RTS’ classic market has formed 43.3 mn USD. Whereas highest volumes were achieved through securities of: Gazprom (11.1 mn USD), Norilsk Nickel (8.5 mn USD) and Sberbank (7.2 mn USD).
It seems as if world stock grounds have finally came to senses, after such long negative moods dominating the world. Yesterday’s trades finals on primary foreign indices have proved to be good. DJ added +1.63%, NASDAQ +0.44%, Asia’s Hang Seng rose +0.51%, the positive dynamics were also continued by European grounds. Thus – some of the most positive prerequisites have formed for positive opening of trades throughout Russian exchanges. However – we must point out that internal factors are more important now, such as situation around Mechel. Thus – we think that situation would remain unstable today.
Main Stock events
Gazprom Neft: Serbia re-estimates NIS.
The government of Serbia accepted offer by ministry of economy to re-estimate market value of Naftna Industrija Srbije (NIS) oil company, 51% of which are set to be purchased by Gazprom Neft, writes “Politica” Serbia’s newspaper, linking to state secretary of Serbia’s economy ministry – Neboishu Chiricha.
Transneft: VSTO-2 and Kosmino special port costs to form 13.5 bn USD.
The expenditures at construction of second stage of Vostochnaya Sibir – Tikhy Ocean (VSTO (East Siberia – Pacific Ocean)) may form up to 260 bn RUR (11 bn USD), states the project of information memorandum for new issue of bonds by Transneft.
Silvinit estimated investments for Polkovodsky spot in 1.5 bn USD.
Silvinit (Berezniki, Perm Krai) plans t invest at least 1.5 bn USD into construction of mining and enrichment complex at Polovodsky spot of Verkhnekamsky potassium-magnesium salts deposit in Perm Krai, says company’s press-service.
Other Stock news
Onexim made an offer to TGC-4 minors.
Dalsvyaz – weak 2Q.