Apr
23
Trader’s Stock daily - April 23, 2009
Filed Under Trader’s view |
Stocks Market today. The market was covered by the wave of positive. The main activity was focused on the shares of Sberbank, which added more than 8% against the background of CB reducing refinancing rate, against the background of announcing dividend payoff. Positive conjuncture at the nickel market supported demand growth for Norilsk Nickel.
Market tomorrow. Likely the trades will be moderate: rush of “bulls” will cool down till tomorrow, and purchases will be more careful and thoughtful. And a set of stats on the Eurozone and U.S. might return the participants back to Earth.
Bonds
Market today. On Thursday the dynamics of ruble bonds quotes indicated no actual direction while the turnover slipped significantly. Demand was for the issues of Moscow (45,54) and Moscow region, VTB-5, VTB-Leasing-1. Along with that Yar.obl.-7, Sibtelecom-8, Gazprom-4, EBDR-2, Lenenergo-3 were sold. In the third echelon some action was indicated in the notes of Nikoshim (2nd issue). At the Eurobond market calm mood did not last long. As soon as the ghost of devaluation disappeared the quotes of long-term liquid currency issues of Gazprom, Gazprombank, VTB and others dropped average 50 b.p. However, there were little deals via those prices.
Market tomorrow. The week should end positively. Despite the external negative. The situation at the currency and monetary market is favorable for currency bonds. As for the price drop of Eurobonds, currently that relates only the most demanded and rather low-yield ones.
No comment
RF GDP dropped in 1Q by 9.5%, in 2Q drop is possible at the level of 8.7-10%. (MED)
International reserves of RF as of April 17 grew to 384.8 bn USD (CB)
CB of RF reduces refinancing rate to 12.5% and is ready to go for further reduction (CB)
Management of Gazprom worked out a recommendation to pay off dividends for 2008 by 1.28 RUR per share (Interfax)
LUKOIL: annual meeting will take place June 25, register closes May 8, recommendation on the dividends – 50 RUR per share (Company)
Net profit of VTB by IAS for 2008 totaled 212 mn USD, higher than expected. (Interfax)
6 representatives of Nafta and 5 representatives of Interrosa and Oneksim are offered as directors of Polyus. (Interfax)
Net profit of WGC-3 by IAS remained at 2007 levels. (Interfax)
VTB provided a 4 bn RUR credit to AvtoVAZ for adding to the circulating assets. (Interfax)
Aeroflot reduced passenger transfer by 13%. (Company)
Trader’s Stock daily - April 23, 2009 (PDF)