Russian Stocks
Market today
. Price growth of oil and non-ferrous metals warmed up the demand of shares of oil-and gas and metallurgy sector. Gazprom, LUKOIL and Norilsk Nickel were of most demand. Due to expectations of Timothy Gaytner’s statement relating buyback of problem assets from banks, the purchases were indicated on shares of Sberbank. RBC share went up by 50% due to possible buyback of 65% shares of the media holding by Oneksim group.
Market tomorrow. Tomorrow we suppose local correction might occur due to continuous growth of RTS index within 4 days. However the external factors remain rather strong. Due to that it is quite possible that the bulls’ spirit might prevail again over the technical factors.

Russian Bonds

Market today. Trade turnover reduced on Monday versus the rush of the previous week. Nevertheless, the activity of ruble bonds remained rather high, which was partially due to the rather cheap REPO (9.0-10.0% annually). Once again among the leaders on the turnover volumes were the issues of MGor-45 and MGor-47. Besides, banks were good also (VTB-6, Petrokom-6, URSA-bank-3, DeltaKr-2), and also X5 Finance, STC-4, Gazprom-6. At the market of Russian Eurobonds the down trend was indicated on cost of short-term currency issues, which on one hand is due to dynamics of dollar rate, on the other – the investors intend to transfer to longer term issues, the yield of which has greater reduction potential. Ruble notes sector, overheated significantly within the past two weeks, entered the phase of consolidation.
Market tomorrow. Price growth at the domestic market will likely continue, though within the previous week the notes added significantly due to the exceeding liquidity. Likely soon the companies of the 1st and 2nd echelons will enter the market. Possible premiums at placements might affect the secondary market negatively.

Russian stock with No comments

Gazproms current extraction dropped more than 25%. (CDO FEC)
Rosneft directed offer on redemption of 5.5% VChNG shares for 1.5% bn RUR. (Interfax)
Fitch confirmed long-term rating of TNK-BP at the level “BBB-” with “negative” forecast. (Fitch)
Polimetall purchases gold mine Sopka Kvartsevaya from Lavaev group for 70 mn USD. (Commersant)

MMC reduced RAS net profit by more than 5 times in 2008, in 4Q 2008 gained 23.4 bn RUR of net loss. (Company)
Belon upped IAS net profit in 1H 2008 by 5.3 times to 1.135 bn RUR. (Company)
Oneksim offers to buyback 65% of RBC within the frames of restructuring debt of the media holding. (Interfax)

Trader’s Stock daily - March 23, 2009 (PDF)

Comments

Comments are closed.