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Russian stock market daily evening report (February 15, 2010, Monday)

Contributed by Veles Capital

By Veles Capital

Stocks
 

Market today. During the day cautious purchases were indicated at the Russian share market against the indefinite foreign background. On one hand, the oil prices were under pressure of the data on fuel supply in the U.S. On the other, the European indices were climbing up against the background of good corporate reports, weakening of alarms on PIG states’ economies, and also the talks on keeping the interest rate by CB of the Eurozone at the low levels. Finally the future of the American indices went positive. Aside all that, activity of players was not high due to a holiday in the U.S. Mainly interest was focused on Sberbank and Gazprom.

Market tomorrow. Going after Monday, the Tuesday trades might open with growth, however, it unlikely will be intense, due to serious stats on the U.S. is expected on Wednesday only. Nevertheless, data on the economy of the UK and Germany might introduce new flavor to the course of the trading session.
 
 

Bonds
                                                       
Market today. The day was relatively calm. The turnover volume was significantly lower than on Friday. Likely that was due to the holiday in the U.S. No single trend was indicated. The growth leaders were the following issues: NLMC-MB-5, MGor-62 and Atomenergo-2. Also many deals went on RZD notes. Totally the price variation range fit in -10/-20 b.p. Against the background of Asian and American holiday the activity at the Eurobond market made a zero. Quotes of Russia 30 stood at 112.5% of the nominal value by the end of the day.

Market tomorrow. Placement of new Globex will be a remarkable event on Tuesday. It is clear already that oversubscription will be considerable. The only question is to what decree will the organizers dare to push the market.
 
 

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In 2009 Gazprom lowered the extraction to 461.4 bn cubic meters, in 2010 growth up to 519.3 bn cubic meters is expected. (Company)
In 2009 Gazprom Neft reduced oil export to far abroad by 7%. (Company)
In 2010 Surgutneftegas will keep the extraction at the level of 59.5 mn tons, in East Siberia it will output 2.6 mn tons. (Company)
Net profit of LUKOIL by US GAAP within 2009 lowered to 7 bn USD. (Alekperov)
Sberbank of RF upped the net profit in January by 3.3 times to 11.7 bn RUR. (Company)
VTB 24 upped RAS net profit in January by 27 times to 2.54 bn RUR. (Company)
In 2010 MMC will raise its output by 27%. (Company)
AvtoVAZ is raising vehicles’ retail prices by 1-3% depending on the chosen options. (Interfax)
ECB might keep low interest rates for supporting the economy. (ECB)