Feb
27
Stock Daily review - February 27, 2009
Filed Under Trader’s view |
Thursday trades went off basing on foreign positive against the background of rather low volumes. Climbing oil prices supported the shares of oil and gas sector. The rest of sectors looked neutral and upping of branch indices varied about 0.5% level or even less. Oil shares were of high demand and grew by 1.5-4.5% average. Besides the raw material factor, the market got supported by futures for the American indices, and the promise by Baraka Obama to provide the banks with additional liquidity developed into RTS index upping by 4 more points within the last 2 hours of the trades. Negative statistics of the US labor market did not introduce significant corrections to the dynamics of the domestic indicator.
RTS index secured at the level of 547.55 points by the end of the trading session, adding to the previous value totaled 1.75%. Main input to the positive dynamics of the index was provided by the shares of LUKOIL (+2.74%), Rosneft (+4.62%) and Gazprom (+1.87%). Profit fixation could be seem from the shares of Seventh Continent (-1.47%) and RusHydro (-1.72%).
Turnover at the RTS market remained rather low – 2.3 mn USD. The shares of Gazprom (0.4 mn USD), Rosneft (0.3 mn USD and RusHydro (0.3 mn USD) were of the most demand.
The last trading day of the week is likely to provide correction of the RTS index. Negative closing of foreign markets will support that. Besides, the oil prices are going down this morning. Data on GDP of the US is expected to come out this afternoon and it might affect the course of trades. Nevertheless, the activity will remain at the low level, but still the RTS index will end this week climbing.
Main Stock events
CTC Media: first “crisis” report.
CTC Media’s sales for 4Q 2008 grew by 15.9% up to 187.3 mn USD. OIBDA totaled minus 136.1 mn USD. Net loss of the company formed 89 mn USD for 4Q 2008.
Other news
The government balances calculations and payment of export duty.
The government of Russian Federation approved the draft on calculation of export duty considering its value on supply date.
Ø MMC did not payoff almost half of dividends for 1H 2008 having made arrangements with its holders.
MMC paid slightly more than half of 1H 2008 dividends – 2.4 mn RUR out of 4.26 mn RUR.
Ø Raspadskaya expects triple increase of extraction in February comparing to November bottom level.
Raspadskaya expects triple increase of extraction levels in February 2009 comparing to November last year. Extraction volumes climbed up by 60% comparing to September and by about 55% comparing to October levels.
Ø Rostelecom went serious on Sky Link.
Rostelecom addressed FAS of RF with a application on purchase of a 100% of Sky Link’s voting shares.
Ø Aeroflot approved the plan of capital investments for 2009.
The board of directors of Aeroflot – Russian airlines approved the plan of capital investments for 2009 amounting 3.195 bn RUR at the meeting on Wednesday.