Mar
25
Daily Stock review - March 25, 2009
Filed Under Trader’s view |
On Tuesday the trades at the domestic share market were negative. Despite the rapid climbing of the American indices the day before, the RTS index decreased to the level of 725 points by noon. There were several reasons for that. First of all, the necessity of correction was clear a long time ago – the RTS index has been climbing 4 days in a row. Second, commodity markets were into correction. The oil prices went down against the background of fuel supplies increase in China. As a result, that reflected on the quotes of oil-and-gas companies’ shares. LUKOIL lost more than 4%, Gazprom – 1.5%. Besides, a number of corporate events took place. Norilsk Nickel got into focus of the mass media. Information came out on the unhealthy interest in the nickel company on behalf of the state representatives. That instantly reminded the market of the Mechel case. Due to that the quotes of Norilsk Nickel dropped 9%. Sberbank issues the first results of the year, which indicated RAS net profit reduction.. Resulting from that the bank’s quotes lost 5.65%.
Main Stock news
NLMC upped 2008 US GAAP net profit by 1%.
NLMC upped the net profit according to US GAAP in 2008 by 1% to 2.279 bn USD, the net loss in 4Q 2008 totaled 481 mn USD. NLMC expects sales by the end of 1Q 2009 amounting 1.1 bn USD, EBITDA margin – about 20%.
Other Stock news
TNK-BP plans the extraction to be at the level of 2008 and to be profitable by the end of 1Q 2009.
The extraction level is supposed to exceed the forecast of the company for the given period.
Ø MEDT offers not to change tariffs for the natural monopolies in 2009, but limit their growth in 2010.
They assume in MEDT that the tariffs for the services of the natural monopolies in 2009 are to be kept at previous levels, but reduced in 2010 versus the planned levels.
Ø Minority of TGC-4 lost again.
On Tuesday the ninth arbitrage appeal court kept in power the decision of Moscow Arbitrage court on bank warranty of Rosbank on TGC-4 shares offer to be invalid.
Ø Uralkaliy and Sylvinite increase the capacity load, but are far from 2008 estimates.
In February 2009 Uralkaliy upped output of Potassium chloride to 91 thousand tons (in terms of 100% potassium oxide) or 150.6 thousand tons of commercial output.
Daily Stock review - March 25, 2009 (PDF)