• Russian stock market daily morning report (September 01, 2015, Tuesday)

    Numbers posted in the morning g showed reduced business activity in the industry of China by the highest rates for the past years. At the given background, run from risk continued at the market. Euro, yen and Swiss Frank are climbing. Asian grounds were looking down, so did the futures for the European and American indices. At the meantime, the Russian market will be supported by a new all-time high growth of the oil quotes after the release of the n umbers on the reduced extraction in the US and statements of OPEC on being ready to discuss the oil price dip.


    Main events

    Akron posted IAS report for 1H 2015.

    EBITDA for 2Q formed 7.85 bn RUB, which was 1.8x above the estimate for the similar period of the previous year and above the consensus forecast that formed 7.1 bn RUB. The net profit was also above targets and formed 5 bn RUB for the 2Q vs the expected 3.9 bn RUB. We assume that the quarter results of Akron were mildly positive, therefore there still is a number of potential growth drivers for the financial estimates, and nevertheless, after the recent daysí oil quotes growth, we might be expecting further gradual strengthening of ruble, which would be pressing the quotes of Akron.

    Contributed by Veles Capital
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