May
20
Stocks Market today. Rally continued being headed by the oil-and-gas sector and Sberbank. Demand for the shares of oil-and-gas sector was supported by oil price growth to 60 USD. The interests are still the same – Gazprom, LUKOIL and Rosneft. Along with that the leader on turnover volumes and adding was Sberbank at the background of statements by Ulyukaev that the bank does not need additional emission. Activity was indicated in the shares of VTB. Demand for Norilsk Nickel was provided by nickel price growth, and telecommunication companies added in price due to another rumor on reorganization of Svyazinvest.
Market tomorrow. The correction is technically possible, however the external background stays positive, which might support new purchases.
Bonds
Market today. At the domestic market the buyers dominated, though the volumes of trades were rather not high. Primarily the 50th, 56th and 5th issues of Moscow were of the most interest. Also active demand was for Sistema-1, Uralsibleasing (1st and 2nd issues), OMZ-5. In the third echelon a significant amount of deals for the second day in a row was indicated in Kamskaya valley, Seventh Continent and 36.6. At the Eurobond market things are still calm – prices of the notes varied within the range of 1-10 b.p. without any visible volumes.
Market tomorrow. Ruble strengthening and high liquidity level are the only factors that might explain building up interest to ruble notes, which is equally fair for both: bonds and shares. At the same time, such intensive ruble growth is hard to be explained in reasonable terms.
No comment
Capital outflow from RF in April – the lowest since September, about 2 bn USD. (CB)
CB RF within the former 4 months purchased 20 bn USD, having emitted 700 bn RUR. (CB)
CB believes the buyback of VTB to be not such a timely mechanism and it’s execution to be remote. (First deputy chairman of CB RF Alexei Ulyukaev)
Novoship upped dividends for 2008 by 37% (Interfax)
Diksi completed 2008 with IAS loss of 324 mn RUR, worse than forecasted. (Interfax)
MCTN might direct 483.127 mn RUR to dividends. (Interfax)
Belon gained 731 mn RUR of RAS net loss in 1Q 2009 versus profit a year before. (Interfax)
Trader’s daily Stock Market News - May 20, 2009 (PDF)