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Russian stock market morning report by Veles Capital (October 6, 2008, Monday, 7.30 a.m. GMT) 6 October 2008 Source: www.veles-capital.ru
RTS has dropped -7.09% and stopped at 1070.98 points, which is basically a level of three years ago. The top undermining of index has been made by stocks of LUKOIL (-6.48%), Gazprom (-7.03%) and Rosneft (-10%). Classic market turnover of Friday was low, just 11.3 mn USD. Whereas the highest trading volumes were recorded after securities of: MTS (2.5 mn USD), LUKOIL 2.4 mn USD) and Sberbank (1.9 mn USD). Late last week US congressmen have finally accepted 700 bn USD worth “Paulson plan”, promised to stabilize the failing financial markets. Nevertheless, despite of given news, the US market and then Asian markets have gone in the red over a short-term. Therefore, the fears of global crisis incoming remain the primary driver of market fall. And obviously this week Russian stock market would remain volatile, whilst dynamics would be strongly related to macroeconomic data from beyond the ocean. Other news Norilsk Nickel’s net income decreased by 33.2%, to 2.682 bn USD under IAS 1H 2008 report Over January-June 2008 Norilsk Nickel’s consolidated unaudited net income decreased by 33.2% and formed 2.682 bn USD under IAS financial report in comparison with 1H 2007 results, says company’s statement. However, company’s revenue increased by 5.3% and reached 8.311 bn USD. Therefore, company’s metals sales decreased by 5.7%, to 7.210 bn USD. Uralsvyzinvest’s draws IAS 1H 2008 financial report According to IAS 1H 2008 report, Uralsvyazinform’s net income upped 1.7 bn RUR, +27.2% above 1H 2007 results. Company’s revenue increased by 5.5% and reached 20 bn RUR, says company’s financial report. Udmurtneft may cut investment plan Udmurtneft oil company may reduce the value of its investment plan, including mid-term plan, reported company’s regional policy and media cooperation department to Interfax. |
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