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Russian stock market daily evening report (November 20, 2009, Friday)

Contributed by Veles Capital

By Veles Capital

Stocks

Market today. The activity of the players lowered on the expectations of the week-end. During the trading session the sellers prevailed, however, full-scale correction did not happen. The preferred shares of Sberbank, and also Tatneft and Polyus Gold managed to stay within the green zone. The last mentioned shares likely were reacting to the decision by the principal holders not to conduct SPO.

Market tomorrow. There actually are no reasons for further sale. We do not exclude that positive moves will take place within the frames of the three-day correction.

Bonds
 

Market today.  Totally the day was into climbing. The expectation of rate reduction by The Bank of Russia held back the ruble bonds from dropping following the share market. This time things were calm in the section of FLB. The main interest was focused on the municipal and corporate segments. The buyers were interested in the issues of Moscow, Tver Region, Krasnoyarsk Territory and Volgograd Region. Demand was also indicated in the issues by RZD. MMC MB-01 loan that entered the secondary market stood a bit higher than the nominal without any special activities. Things were relatively calm at the Eurobond market. The sovereign loan Russia 30 was lower than 113.5% of the nominal, which forged the buyers of corporate notes.

Market tomorrow. On Monday growth will likely continue in ruble corporate segment, though uncertancy with further behavior of the currencies might introduce some nerves to the trades.

No comment

Producers’ prices in Germany did not change in October, upping by 0.1% has been expected. (Interfax)

The number of unemployed in the RF grew by 75 thousand in October, first time since February. (Rosstat)

Supplies of gold in the reserves of CB RF in October grew by 2.6%. (CB RF)

Oneksim and Nafta Moskva decided not to sell shares of Polyus Gold due to insufficient demand. (Interfax)

Norilsk Nickel in 2010 will up the capacity of Kolskaya MMIW to 161 thousand tons of Nickel. (Interfax)

AvtoVAZ forecasts the growth of sale of Lada in 2010 by 11%; intends to lower the prices. (Interfax)

VEB is ready to finance the investment program of AvtoVAZ after the definition of arrearage features. (Interfax)