Jul
31
Trader’s daily - July 31, 2009
Filed Under Trader’s view |
Stocks
Market today. Various dynamics of the main liquid shares was dominating. The demand was changed by selling depending on the situation at the commodity market. The data on U.S. GDP should be outlined – it turned out to be better than expected, and also the data on consumer prices in the Eurozone. The activity of the players on the threshold of the week-end grew and the priorities remained the same – Gazprom, Sberbank, LUKOIL and Rosneft.
Market tomorrow.The beginning of the week will be under the affect of the GDP stats from the U.S. and also from the situation at the oil market. For now the American indices and prices for oil are in the green zone, which give a chance of a positive open of the Russian grounds on Monday.
Bonds
Market today. On Friday ruble strengthening has leaded to purchases in the sector of ruble bonds. Today the active trades were on the following: GazpromA4 (-0.05 p.p.), MTS (-0.51 p.p.), WGC-6 (+1.51 p.p.). The news on Mechel’s debt restructuring could not leave its notes unaffected – Mechel-2 (+0.37 p.p.). Also the news on RZD on providing bail in the volume of 25 bn RUR, was won back, as a result of which RZD upped – RZD-16 (+0.44 p.p.), RZD-10 (+0.29 p.p.) and RZD-12 (+0.58 p.p.). At the Eurobond market the motion was within lateral trend, sovereign loan Russia-30 traded lower nominal on Friday.
Market tomorrow.On Monday the positive stats and stabilization of the situation at the markets might lead to growth of demand for the ruble notes.
No comment
Unemployment in the Eurozone grew in June to 9.4% - maximum since 1999, better than the market expected. (Bloomberg)
Lowering of GDP in the U.S. in 2Q 2009 totaled 1%, better than forecasted. (Bloomberg)
Net profit of WGC-3 in 1H 2009 grew by 7%, WGC-6 – by almost 5.5 times, MOESK – grew by 22.7%. (Interfax)
Net profit of Gazprom by RAS in 1H 2009 dropped by 41% to 169 bn RUR. (Interfax)
CTPZ and PNTZ in 1H 2009 reduced shipping of products by 38%. (Interfax)
In 2Q 2009 Severstal reduced steel output by 28% to 3.8 mn tons. (Interfax)
CCZ gained 160 mn RUR of net profit in 2Q 2009 versus loss in 1Q 2009. (Interfax)
Norilsk Nickel closed 2Q 2009 with net profit by RAS in the amount of 52 bn RUR. (Interfax)