Mar
13
Trader’s Stock daily - March 13, 2009
Filed Under Trader’s view |
Stock Market today. Oil prices growth and climbing at the major global markets provoked “boom” at the Russian share market. Primarily the activity of the players was concentrated on the shares of the oil sector: Gazprom and Rosneft were actively bought. Besides, Norilsk Nickel is still purchased rapidly. Total volumes at the RTS market grew 4 times versus the previous day.
Market tomorrow. The new week might start with correction at the share market. That might be supported by the reducing American markets. Besides, Meeting of OPEC members will be conducted Sunday, where the decision on reducing oil extraction by the states-participants of the cartel will be made. In case the market expectations are justified, oil prices might go down, and the Russian market headed by the shares of oil-and-gas shares would follow.
Bonds
Market yesterday. The purchases remained at the domestic market. Partially that was supported by the extremely cheap funding. So, REPO rates reduced to 9.5-10.5% annual interest. The quality notes of A1 list were bought (MGor-45, VTB-5, Gazprom-4, VTB24-01). Interest was indicated in the second echelon: SANOS-2, X5 Finance-1, Integra-2. Due to strengthening of the negative background around the company the quotes of RazgulyayF-4 slipped a lot. Another day in a row the high volumes were indicated in the second issue of United Confectionaries. In the ruble section of the Russian Eurobond market consumer boom was indicated on the bank bonds (VTB 2009, Bank of Moscow, Rosbank 2009, Ursa Bank 2009). At the same time there was no adequate offer on behalf of the sellers.
Market tomorrow. On Monday the market will likely continue growing. Despite the insignificant banks’ ruble remains with liquidity, likely things are good. Besides, lately various managing companies showed activity.
No comment
U.S. statistics: consumer trust index upped in March, foreign trade balance deficit dropped in January to minimum level within 6 years, the import prices reduced in February – the seventh month in a row. (Interfax)
Bank of Russia does not intend to change the limits of currency corridor. (Shuvalov)
OPEC reduced the forecast of global demand of oil in 2009 by 0.34% to 84.61 mn barrels per day, IEA –to 84.4 mn barrels per day. (Interfax)
Severstal intends to impose a penalty on GAZ in the amount of 400 mn RUR. (Interfax)
FAS allowed Prokhorov to consolidate 75% of Polyus Gold shares, but that permit is of little importance now. (Interfax)
FAS approved claims of AFK Sistema on purchasing majority shares in 5 companies of Bashkir FEC. (Interfax)
AFK Sistema will sell Sinterre 50% of voting share of MTT for 54 mn USD. (Interfax)
Trader’s Stock daily - March 13, 2009 (PDF)