May
15
Daily Stock Market review - May 15, 2009
Filed Under Trader’s view |
On Thursday quotes’ slipping continued at the Russian share market. Among the drop reasons we outline both: technical moments and following the conjuncture of the global exchange and commodity markets. The technical factor is continuation of profit fixation after growth earlier. Note that within the previous two weeks the market grew non-stop and the RTS index upped by 28%, even testing the level of 1,000 points. Together with index growth the market overheating upped also, and so grew the possibility of correction down. Among the fundamental factors oil prices’ reduction should be outlined. The oil and bank shares were in minus. Especially we should outline VTB, which lost in price on the news on placing additional emission and the possible refusal from buying back the minority shares.
Main Stock news
Polymetal extends the additional emission.
The holders of Polymetal at the meeting on June 19 will discuss the matter of placing the additional emission. Earlier the holders of the company have already decided to place an additional emission for 30 mn shares, however after that the company announced another two deals, in order to pay for which the company’s shares might be used. The company’s board offers to up the authorized capital stock by 84.375 mn shares.
Other Stock news
Ø Surgutneftegas bought more of Talakan.
Ø Bashneft closed 2008 with 17% drop of profit.
Ø Gazprom Neft defined 2008 dividends.
Ø Uralsvyazinform: 1Q 2009 results.
Ø Net profit of Power Machines by IAS in 2008 exceeded 79.6 mn USD versus loss a year before.
Ø KAMAZS reported by RAS for 2008 and 1Q 2009.
Daily Stock Market review - May 15, 2009 (PDF)