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Russian stock market daily evening report (February 12, 2010, Friday)

Contributed by Veles Capital

By Veles Capital

Stocks
  
Market today.  The trades at the Russian market began on Friday with slight growth. But the news from China and European stats together with former problems of PIG states did not give a chance to the market. Even the positive stats from the U.S. did not smooth the drop.

Market tomorrow. Total background was still negative – that is the main resistance factor, which likely will totally grade the possibility of climbing correction, which we might hope for after Friday drop.

Bonds
                                                 

Market today.  Positive mood drove the market within the most part of the day. Chinese factor made only a short-term impact having kicked out only the most nervous players. The essential game went on the notes of RZD (15th, 23rd and MB-1), and also both new issues of Rosselhozbank. By Friday results the notes of 1-2 echelons added 10-20 b.p. The upping of reserving norms by the Central bank of China made a limited affect. Sort-term selling in the sovereign issue Russia 30 changed to purchases, which allowed the loan to close a bit lower than the level of 113% on the nominal.

Market tomorrow.  The coming week is interesting due to new placements. Meaning first of all the loans of Severstal and the auction on placement of bonds by Globeks bank. It is all clear now that the interest in them will be increased and that provides the positive impulse to the market.
 

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Central bank of China upped the reserve rate by 50 base points. China takes out the assets of state funds from risky American assets. (Interfax)
Retail selling in the U.S grew in January by 0.5%, 0.3% upping was expected. (Interfax)
Industrial production in the Eurozone in December reduced to 1.7%, growth by 0.1% was expected. (Interfax)
GDP of the Eurozone grew in 4Q by 0.1%, upping by 0.3% was expected. (Interfax)
Ministry of finance upped the forecast of RF deficit in 2010 to 7.2% of GDP from 6.8% of GDP. (Interfax)
Norilsk Nickel in 2009 doubled the supplies to China. (Interfax)
AFK Sistema files a claim to FAS on purchasing up to 49% of Russneft’s shares. (Interfax)
Polyus Gold attracted 11.4% of RBC shares. (Interfax)