Apr
18
Trader’s Stock daily News - April 17, 2009
Filed Under Trader’s view |
Stocks Market today. On Friday growth continued, though on some overheated shares (such as Norilsk Nickel, some energy companies) profit fixation indicated. Nevertheless, demand still was there in some liquid energy shares. Also oil sector representatives were good traded due to price growth of the “black gold”.
Market tomorrow. Growth potential in the short-term prospect still exists at the Russian market, however up movement is getting harder due to overheating.
Bonds
Market today. Again the day was a rush. The main intrigue was the placement of Gazprom Neft. Over-subscription was so great that the company upped the loan volume to 20 bn RUR. The note is traded via 101 figure. High demand was on behalf of non-residents. Also Gazprom itself was placed today. The book was closed by 9.25%. Against that background demand was in the long-term notes (2013-2016) from the Lombard, mainly in banks (VTB-16, Gazprom-13, etc.). In the end the yield of those notes reduced to 10% or less. A1 notes are taken from the order book. Looks like the demand of the managing companies. In the second echelon the demand was for Loko-Bank 10 (dollar) – the short-term ruble loan cannot be found on the market, so people are filling the limits by longer issues. OAK grew also after its subsidiary – Irkut – got covered.
Market tomorrow. On Monday the day likely will be positive. However, today down of Gazprom might transfer to other notes. Primarily to Gazprom Neft and bonds of the first echelon. Globally many notes seem to be overbought. Correction is inevitable in the long-term currency notes. However serious drop should be expected by the end of the month.
No comment
Gazprom might up the Eurobond placement volume from 2 to 2.25 bn USD. The company places 10-year Eurobonds of the new issue by the rate 9.25%. (Interfax)
Net profit of GE in 1Q 2009 dropped 40%, but exceeded the forecast of analysts. (Interfax)
Net profit of WGC-5 by RAS reduced in 2008 by 13%. (Interfax)
NLMC decreased steel output in 1Q 2009 by 12% to 2.1 mn tons and expects worsening of price conjuncture in 1H 2009. (Company)
RZD expects decline of passenger transfer in 2009 by 8.5%. (Interfax)
GAZ Group expect in 2009 EBITDA to form 401 mn RUR. In the current year the group will supply 825 trucks to the power authorities for 410 mn RUR. GAZ group upped the sales in March 2009 versus January by 1.5 times. (Interfax)
Kazanorgsintez could not payoff dividends for 2007 due to crisis. (Interfax)
Trader’s Stock daily News - April 17, 2009 (PDF)