• Russian stock market daily morning report (September 02, 2015, Wednesday)

    We assume that second wave of reduction has started at the global grounds due to rising alarms regarding the Chinese exchange market and the economy of China in general. Messages that the authorities of China would not be supporting the exchange grounds but would focus on the persons responsible for destabilization of the situation at the market added more negative to the investors as the bounce after the first wave of selloff has been caused precisely by the messages on the support on behalf of the state.

    Today, aside the report on the oil reserves, the employment numbers are coming up in the US and markets might appear to be sensitive to it in the light of an upcoming Fed session.

    Main events

    Government will discuss the protocol of agreement on the Chinese market buying 9.9% of Yamal LNG from NOVATEK.

    The news was expected, but still it might become a driver of the quotes growth of NOVATEK selling a share is related to the talks on project funding of Yamal LNG with the banks of China and getting the project funding is the condition for providing the second transfer of the state bail from NWF for sum 75 bn RUB.

    Contributed by Veles Capital
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