Oct
18
Trader’s daily - October 15, 2009
Filed Under Trader’s view |
Market today. The effort for growth was in vain √ all afternoon the sale was indicated on the market, despite the strong oil. The most selling was in the bank and automobile sector. Support came from the shares within the telecommunication sector.
Market tomorrow. Likely the already existing levels of oil prices are not enough any more for the further climbing of the market. Considering the market being overbought the further drop is possible.
Bonds
Market today. In the first half of the day the market continued climbing, being driven by the purchases in the FBL. The liquid corporative notes grew by 50-60 b.p. average. However in the afternoon the market corrected down. Among the most of the traded issues might be outlined Moscow 56 and 62, MTS-4, TransFinance-2, RZD-12, VK-Invest-3. In the corporate segment of the Russian market of Eurobonds things were still calm on Thursday. Along with that the issue Russia 30 was also attacked by the sellers, which by the way provoked correction at the domestic market.
Market tomorrow. Friday we suppose the purchases will continue, which will also be supported by the closing of book on Mechel.
No comment
International reserves of RF as of October 9 grew to 418.7 bn USD (CB RF)
Industrial production in RF within January-September dropped by 13.5%, oil extraction grew by 0.6%, gas output dropped by 18.6%, output of light vehicles reduced by 62%. (Rosstat)
MEDT keeps the forecast of GDP forecast in 2009 at the level of 8.6%. (Interfax referring to Klepatch)
Net profit of Transneft by IAS within 1H 2009 formed 54.6 bn RUR. (Company)
Rosneft believes liberalization of access to the shelf of the foreign organizations to be not reasonable. (Interfax referring to Bogdanchikov)
Minpromtorg supports the idea of capitalization of AvtoVAZ’s debt via bonds purchase by VEB. (Interfax)
Credit load of UGMK forms about 3 bn USD.