May
12
Stocks Market today. Strong growth continued at the market following the commodity markets. A wide range of shares was purchased, however, the most favorable ones were the shares of the oil-and-gas sector and banks.
Market tomorrow. We do not exclude lowering tomorrow. The reasons for that might be the following: overheating of the market, reduction of foreign grounds, cooling down at the oil market.
Bonds
Market today. Growth continued at the domestic market, which was supported by cheap overnight (about 8% annual interest) and continuing ruble strengthening. The most active trades were on the issue within the second echelon, and particularly, on bank issues (Transcredit-1, Promsvyazbank-5, EBDR-2). Usual demand was for the “fresh” VTB-5 and MGor-54. At the Eurobond market positive quotes’ dynamics was indicated also. High demand was for the ruble loans (Bank of Moscow 2009, Rosbank 2009, Gazprombank 2010), and also for the underestimated issues (UAC 2009 for instance).
Market tomorrow. On Wednesday the growth on ruble notes will likely go on, while demand for more liquid currency bonds might decrease.
No comment
Oil export duty from Russia will up starting from June 1 to 149-152 USD per ton. (Interfax)
Russia will be collecting a state share from Sakhalin-1 and Sakhalin-2. (Putin)
Sales of Transneft by RAS in1Q 2009 grew by 1.3 times. (Company)
Tatneft reduced oil extraction within 4 months by 2.1%. (Company)
Companies within Svyazinvest holding reduced capital investments by 60% in 2009. (Interfax)
State foreign debt of RF as of April 1, 2009 totaled 39.5 bn USD versus 40.6 bn USD as of January 1, 2009. (Ministry of Finance of Russian Federation)
Deficit of state budget of the U.S. in the final variant will exceed 1,800 bn USD. (Interfax)
Trader’s Russian Stock daily News - May 12, 2009 (PDF)