Russian stock market daily evening report (November 17, 2009, Tuesday)
Stocks
Market today. The market slipped after growth the day before. Many preferred to fixate profit, especially on Sberbank and Gazprom. Sellers prevailed in Rosneft and Norilsk Nickel. LUKOIL and Surgutneftegas managed to keep their positions in the positive values. In the afternoon the players were affected by the negative stats from the U.S. and also weak data on the industrial production in RF. Oil did not provide any support either against the background of dollar that was getting stronger during the day.
Market tomorrow. Tomorrow data on sale of newly-built houses and fuel supplies in U.S. are expected. Likely, the expectations of the investors will be justified and the indices will drive to the green zone. Before their output lateral movement with no ideas is most likely.
Bonds
Market today. Quotes growth of ruble bonds continued, despite the morning correction at the share market. Demand structure was totally the same: FLB (25202, 25067, and 25069), Moscow (54th and 62nd issues), Krasnoyarsk Territory-4, NLMC MB-5, Petrokommerts 6 and 7, and also the issues of Lukoil 19 and 20. At the Russian Eurobond market sale came down a bit. Sovereign issue Russia 30 closed at the level of 113.6% of the nominal.
Market tomorrow. Wednesday might be less active in terms of purchases due to possible dollar strengthening at the global currency market. However, high volatility of financial markets makes forecasting complicated.
No comment
Drop of industrial production in RF in October accelerated to 11.2%, worse than forecasted by analysts. (Rosstat)
Gazprom’s chief of export promises to up the sale by 13% in 2010 to 160.8 bn cubic meters, sales from export – by 20% to 51 bn USD. (Company)
NOVATEK upped the capacity of Yurharovskoe deposit in 3Q 2010 by 7 bn cubic meters. (Company)
Gazprom energy holding upped its share in TGC-1 from 29.5% to 30% shares. (Interfax)
Sales of WGC-2 within 9 months reduced by 7.74%. (Company)
Net profit of Comstar-UTS by US GAAP in 3Q 2009 dropped by 26% to 26.9 mn USD, worse than forecasted. (Interfax)
Shareholders of Polyus Gold intend to place 10% of shares in course of SPO. (Interfax)
Growth of industrial production in the U.S. in October turned out to be worse than forecasted. (Interfax)
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Russian stock market daily morning report (February 08, 2010, Monday)
On Friday the Russian share market rolled back to the level of the end of the previous year. The main reasons for the run from the financial markets are the worsening problems in European Union. Against the given background dollar rate is rapidly climbing versus the global currencies and the prices of commodities are dropping, including the oil prices, which is trading lower than 72 USD. First of all suffered the oil-and-gas and metallurgy plants shares – branch indices dropped 3.6% and 4.2% respectively. Also banks lost a lot – 3.3%. Positive stats on unemployment level in the U.S. came out in the afternoon, which helped slightly compensate the morning drop of the RTS index, however, by the day results the market still remained within the negative zone.
Russian stock market daily morning report (February 05, 2010, Friday)
Thursday turned out to be losing on all counts for the Russian share market. The RTS index did not manage to stay higher than 1,500 points and rolled back to January levels. The reason for decadent mood was the negative conjuncture of the commodity and exchange grounds. The oil prices went down to 74 USD against the background of dollar rate increase and growth of fuel supplies in the U.S. Besides, in the afternoon the stats on the U.S. labor market turned out to be worse than expected, which leaded to the drop of foreign exchange grounds and accelerated the reduction of the domestic indices. A wave of sale swapped the oil shares – Gazprom, Rosneft and LUKOIL. Bank sector was in active sale also. The shares of the telecommunication and consumer sectors looked better than the market – branch indices slipped by just 0.8% and 1% respectively.
Russian stock market daily evening report (February 05, 2010, Friday)
Drop of the RTS index accelerated against the background of the negative close of trades in the U.S. and the oil prices that fell to 72 USD. Besides, more and more alarms are arising on the state of the economy of several European Union states, which might lead to full scale drop of the financial markets. Against the given background within the last day of the week the RTS index rolled back to the levels of December’s third decade, having even broken through the support level. Investors were getting rid of everything with no favorites. Large volumes went on Sberbank, Gazprom and LUKOIL. Stats on the unemployment level in the U.S. turned out to be better than expected and had slightly compensated the daytime drop of the RTS index.
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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
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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
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