Russian stock market daily evening report (November 16, 2009, Monday)
By Veles Capital
Stocks
Market today. Players were in extremely positive mood overreacting to the results of the ATES summit, and also to the dollar weakening oil price growth that followed. The RTS index renewed the annual maximums and exceeded the October levels. Buyers showed most interest in the shares of Sberbank, VTB, Gazprom and principal oil chips.
Market tomorrow. Possibility that the positive mood will remain is relatively high. Positive external background will be supporting that. However the effort of the players might get weaker.
Bonds
Market today. On Monday during the whole day increased interest in ruble debt markets was indicated. First of all the investors were interested in the new issues among those placed this fall: Krasnoyarsk Territory-4, NLMC MB-5, Petrocommerts 6 and 7. The only exception is Mechel MB-1, which is still trading lower than the nominal. The interest also was in the notes of Moscow (54th and 62nd issues) and FLB (25202, 25067, 25069).
Market tomorrow. On Tuesday the quotes growth might continue against the background of ruble and total positive at the exchange grounds. Excess ruble liquidity also supports the reduction of yields of debt instruments.
No comment
Bashneft within 9 months reduced net profit by RAS by 34%. (Company)
Evraz Group lowered the sales within 9 months by 2.4 times to 7.1 bn USD. (Company)
Belon within 9 months reduced two times more. (Company)
Severskiy pipe plant lowered the sales by 32% within January-September. (Company)
Sredneuralskiy copper smelting plant lowered by 35% within 9 months. (Company)
In 2010 Silvinit plans to up the output of potassium chloride by at least 20% to 4.2 mn tons. At that the prices of potassium for fertilizers’ producers in RF are planned to be upped from 2010 by 20%. (Sabirov, company).
UMPO offers to exchange 2nd series bonds in the volume of 4 bn RUR to new ones in the volume of 3 bn RUR. (Company)
Eurasia Drilling will place up to 9% of shares at LSE, pay intermediate dividends of 150 mn USD. (Company)
State portfolio of NMTP was included in the plan of privatizing for 2010. (Shuvalov)
|
|
|
|
| Latest Russian Stock Market Reports |
Russian stock market daily morning report (March 11, 2010, Thursday)
As expected the lateral motion was indicated at the Russian share market on Wednesday. Up until the middle of the day the market was climbing basing on the good stats on the Chinese economy, in particular, on the volume of export and import in February. Given estimates showed growth of commodities import to the state, which has been supporting both the oil market and the industrial metals market. And that in its turn supported the companies within the same sectors. Later on sale prevailed at the market that might be characterized as attempts to fixate profit after the recent seven days of trades. As a result, closing of the Russian markets took place within the red zone. Among the interesting ideas of the past day we might outline the shares of Gazprom Neft, which were the drop leaders at MICEX due to the weak financial report for 2009 by US GAAP, and also the technical sale in the shares of Sberbank because of growth of its shares’ cost within the past days.
Russian stock market daily evening report (March 11, 2010, Thursday)
Calm trades almost with no idea with narrow variations of quotes took place at the market today. The oil, foreign markets, stats on the U.S. - all given factors did not provide optimism to the investors. The most interesting motion was on Uralkaliy due to statements by Sechin on the matter of export duties for fertilizers not being considered yet.
Russian stock market daily morning report (March 10, 2010, Wednesday)
After the holidays growth got suspended at the Russian share market. Domestic indices were correcting down by 1% in the first half of the day following Asia and European trading grounds, along with the drop of oil prices, which has been caused by dollar strengthening versus euro, and also the expectations of the investors on increase of oil supplies in the U.S. So, mainly the oil section was pulling the market down. Banks and power energy looked better than the market. In the second half of the day the drop suspended, and the market went laterally and continued trading within the psychological 1,500 and 1,400 points of the RTS and MICEX indices respectively. By the end of the session slight climbing following the American markets was indicated.
| |
|
|
| Russian Stocks Recommendations |
Surgutneftegas: Currency rates are putting away the dividends..., 26 November 2009
We have revised our model of Surgutneftegas. The reason for that was the output of the 3Q 2009 report, correction of our suppositions of the company’s future development, and also the postponing of the target time and evaluation one year forward. Particularly, in our model of Surgutneftegas we have corrected the former forecast of income for the current year towards reduction: on EBIT – by 2.2%, on the net profit – by 21.5%. Mainly that happened due to the corrections on the operating estimates, and also due to the continuing strengthening of Russian ruble, which, considering significant dollar liquidity of the company, turns into negative currency exchange. Due to the negative currency exchange precisely For the second quarter in a row Surgutneftegas shows low level of the net profit. The fourth quarter, as we see it, will not make an exception and we expect negative currency exchange similar to the ones in the third quarter.
Gazprom: Having passed the bottom, 23 November 2009
We have revised our estimation of Gazprom’s shares. The reason for up-dating the company’s model was the report by IAS for 1H 2009, the budget draft for the next year and corrections of WACC method calculation. The provided financial report of the gas monopoly totally brought no surprises. As it has been expected, the second quarter was worse than the first one and likely was the weakest within the whole year. In 1H 2009 the financial estimates were affected by the decline of the gas sale at all markets by 22.3% average, and by the reduction of the retail price of gas by 9.6% in the state of the far abroad and by 24% in Russia. As a result within the six months of the year 2009 sales slipped by 24.1 bn USD or by 32.8% and formed 49.285 bn USD, operating profit and EBITDA showed reduction by 56.7% and 52.6% respectively and formed 12.98 bn USD and 16.18 bn USD.
Rostelecom: Prospects are limited again, 11 November 2009
On Monday Rostelecom summed up the results of 1H 2009 by IAS. According to the report, the sales within the half year year grew by 4.4% versus 1H 2008 and formed 32.8 bn RUR. Net profit dropped from 9.8 bn RUR to 1.5 bn RUR. OIBDA margin reduced by 7.6 p.p. to the level of 17.6%.
| | Russian News |
MMK, TMK, KamAZ, Volgatelecom news briefs, 21 December 2009
VTB releases neutral 9M 2009 IFRS results, 21 December 2009
Gazpromneft, Tatneft, MMK news brief, 17 December 2009
LUKOIL wins right to tap Iraq's largest oilfield, 16 December 2009
Evraz , Sberbank, OGK-3, Sibirtelecom news briefs, 16 December 2009
|
|
