• Russian stock market daily morning report (September 15, 2015, Tuesday)

    Despite the unsatisfying stats from China, and a new wave of selloff in Asia, we expect no significant changes at the global stock markets until Thursday as investors would be waiting for the decision on the rate from the US. However, the oil down at 47 USD per bbl might turn into a negative factor for the trade in Russia this Tuesday.

    Main events

    DIKSI is to provide its operation results for August today.

    Diksi is to provide its results of retail sales for August today. Note that for July the retailer managed to show just 11.6% growth of sales, which was significantly below the numbers showed by its major competitors – Magnit and X5 Retail Group. At the meantime, the company’s president stated in late August that the situation in Diksi got better for August vs July even despite the fact that the consumption deceleration trend was still clear.

    Considering the slip of the company’s stock by 37% from April, the stronger results for August vs July are probably to cause an upside correction of the stock.

    LUKOIL cuts its investment program; plans to keep up extraction at the current level.

    According to Mr. V.Alekperov, LUKOIL has cut its investment program slightly and has suspended a number of projects. Investment programs cut will make no direct impact on the geologic exploration and extraction. We assume the news is mainly neutral and expected, while the word of the head of company that LUKOIL “will always be paying off dividends to its stockholders” have inspired investors.

    Contributed by Veles Capital
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