Stocks Market today. All the liquid shares slipped today. That was supported by the negative external background: commodity market conjuncture worsening, the negative stats on UK and U.S., and also the decrease of futures for the American indices. The mostly sold ones were RusHydro, Sberbank, Gazprom. All the shares within oil-and-gas sector were sold. In the second echelon the rally continued on GAZ, PIK showed profit fixation.
Market tomorrow. The trades open will be defined on Monday by the mood at the foreign markets. Currently it’s all negative. The oil price dynamics does not promise any climbing. The speeches by Tim Geithner and Jean-Claude Trishe on Monday, along with a set of stats on EU, might change the situation.

Bonds

Market today. Trade volumes were rather average at the domestic market. At the same time, the activity of the investors was rather high. Issues on Moscow (49th and 45th) and VTB (5th and 6th) were still in focus. Along with that the turnover volumes upped on the 2nd and 3rd echelons (OMP-6, Ust-Luga1, Domotsenter-1, UGMK-1). At the Eurobond market the demand, like before, was mostly of the currency bank issues: AkBars 2010, AkBars 2013, Tatfond 2010, VTB 2010, VTB 2011, Mezhprombank 2010, Mezhprombank 2010-2. Demand also was for the “exotic†issues, such as VTB 2010, nominated in pounds sterling.
Market tomorrow. The further growth of Russian notes’ quotes might be held back by oil quotes down, which in its turn might affect ruble value negatively. However, we assume that is of temporary nature.

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Gazprom conducts roar show of Eurobond issue in Swiss franks in the volume up to 500 mn USD. (Interfax)
Management of Gazprom will refuse from bonuses and options for 2008. (Interfax)
Net non-consolidated profit of head company Gazprom, JSC according to RAS dripped 52% in 2008 due to Gazprom Neft’s shares down, which will turn out in double decrease of dividends in 2008. (Interfax)
Norilsk Nickel forecasts sales of RF enterprises in 2009 at the level of 6.3 bn USD, EBITDA – 1.8 bn USD. (Interfax)
Norilsk Nickel’s board did not make the final decision on WGC-3. (Interfax)
CPRP and PNPP closed 4Q 2008 with loss by RAS, reduced net profit significantly in 2008. (Interfax)
AvtoVAZ plans to sell 32 thousand vehicles in March versus 29.3 thousand in February. (Aleshin)
Effect from expenses decrease and yield upping will provide Aeroflot with 161 mn USD in 2009. (Interfax)

Trader’s daily Stock Market - March 27, 2009 (PDF)

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