• Russian stock market daily morning report (August 27, 2015, Thursday)

    Oil reserves numbers, posted in the US confirmed the estimation of API on the significant reduction (by 5.45 mn bbl instead of the consensus at 1.45 mn bbl), however, the reduction turned out to be below the API forecast. Last week the oil extraction drop continued (11K bbl per day), however, the rate have decelerated vs the previous week. Oil did correct down slightly after the reserves volume has been posted, therefore, by the US markets close, the quotes returned to Wednesday highs. Today the oil quotes continued climbing: given was supported by all-time high growth of S&P yesterday and morning growth of Asian grounds. The conference starts in Jackson Hole this morning and might provide new signals on global Central Banks being ready to provide support to the financial system. Besides, the position of Fed might be cleared regarding the time constraints of the rate upping (which is probably to be delayed at least till October) Given establishes favorable conditions for growth of the Russian stock market today and in prospect – at least for a couple of days.

    Main events

    Magnit presented its full financial report for 1H 2015 by IAS.

    Net sales of the company for 1H 2015 grew 30.3%, EBITDA – 33.05% and the net profit – 27.23%.

    Tatneft posted its 2Q 2015 IAS report.

    Net profit of Tatneft’ stockholders for 2Q 2015 grew 8.5% vs the similar period of the previous year and formed 29.46 bn RUB. Results turned out to be slightly below targets – 31 bn Rub was expected. We assume the company’s financial results for 2Q 2015 are neutral from the shares’ quotes outlook. Under present conditions, the developing upside trend of the oil prices is to become a far greater driver for the quotes of Tatneft.

    Inter RAO will provide its consolidated financial results for 1H 2015.

    Today Inter RAO will present its financial results for 1H 2015 by IAS. According to consensus, sales of the company will grow 8.4% to 382.6 bn RUB and EBITDA – 28.1% to 34.9 bn RUB.

    Contributed by Veles Capital
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