Sep
30
Stock Review - September 30, 2008
Filed Under Trader’s view |
Russian Stocks - Market today. Today Russian stock market had opened through a deep fall, due to crumbling of US market. However, towards day’s end the market restored and closed at a slight change, mostly thanks to good news from abroad. Market was topped by stocks of Gazprom, announcing plans on redemption of own debt, stocks of banking sector in general, Sberbank was also quite notable. Below the general market went metallurgy companies, due to fall of metal prices.
Market tomorrow. For now, it is rather hard to forecast what would happen tomorrow. Everybody await the decisions from the US. However, the situation seems rather positive now. The interest may linger on in the banking sector.
Russian Bonds
Market yesterday. The market was non-existent today, everybody were occupied with something else, looking for REPO. Its not like there is no cash, its just nobody would give any. The sole security to witness at least some activity was state bond 4620 to year 2036, the whole activity was related to the upcoming conversion of security into state bond 4663 to year 2011, the auction on these securities should be held tomorrow.
Market tomorrow. It is pretty much impossible to forecast what would happen tomorrow with such a market. However, there is a chance that some cautious bids would appear earlier next month.
Russian Stock Market with No comments
NMTP 1H 2008 IAS-compliant income tripled, to 84.5 mn USD (Interfax)
WGC-5 IAS 1H 2008 income dropped -5%, to 1.13 bn RUR (Interfax)
Bush promised to provide a “financial system bailout plan” for Congress (Interfax)
MICEX prolongs trades to 19.00 (Moscow local time) on all markets starting with September 30th (Interfax)
Exchanges to be stopped if price changes by 5% instead of previous limit of 8% - FFMS (Interfax)