Oct
18
Trader’s daily - October 16, 2009
Filed Under Uncategorized |
Stocks
Market today.Rapid morning upping at the Russian market on behalf of the positive close at the U.S. the day before changed to falling rather fast. The reduction was not dramatic, but was indicated on all shares. The reason for drop was the market being totally over purchased, and also the indefinite dynamics at the commodity markets. Besides that Europe was also trading in the negative zone. As a result the RTS and MICEX indices lowered by the results of the trades by almost 2%. Among the liquid shares we might outline only the notes of Rostelecom, which added more than 10% in the middle of the day with no evident reasons.
Market tomorrow. Monday we do not exclude the continuation of reduction at the domestic market. Many players are ready to fixate profit. More to that, the stats and reports, output Friday night in the U.S., do not set to optimism.
Bonds
Market today. In the first half of the day the activity at the ruble bonds market was not high. The market participants were lively by noon only. Relatively big number of deals was in FLB section, which was partially supported by the coming additional placement of 26202 next week. In the corporate segment thing were a lot calmer. After determination of the coupon rate on Mechel at the level of 12.5%, the prices of Severstal loans went up also. At the same time the issue of Mechel itself was trading at the forward market high than its nominal. Against the background of the total demand for the ruble notes offers in the rare municipal notes started appearing also. In the segment of Eurobonds the trade activity was average. Interest was in all issues of Promsvyazbank, and also in Ak Bars 2010 and 2011. New Euro MezhPromBank 2011 was being actively bought.
Market tomorrow.On Monday the purchases will likely continue. Besides zero inflation and the possible lowering of interest rates the possibility of more rapid ruble strengthening might add.
No comment
Investments by RF to the US Treasuries grew in August for the first time within 5 months. (data of FED) (Interfax)
Rate of the 1sr coupon of Mechel’s bonds for 5 bn RUR formed 12.5% annually. (Interfax)
MMC plans to close the deal on upping the share in Belon till November. (Interfax)
Norilsk Nickel with VNP plans to extract 8 mn tons of cocking coal in 3-5 years. (Norilsk Nickel)
NLMC in 3Q 2009 upped the steel production by 11% to 2.9 mn tons. (Interfax)
Renault will invest 2/3 of the amount, required for launching new models of AvtoVAZ. (AvtoVAZ) (Interfax)
Gazprombank reduced its net profit by IAS in 1H 2009 by 24% to 24.4 bn RUR, upped its reserves to 5.7%. (Interfax)
Industrial production in the U.S. in September grew by 0.7%, growth by 0.2% was expected. (Bloomberg)Trader’s daily - October 16, 2009