Reports » Russia

Russian stock market daily evening report (February 25, 2010, Thursday)

Contributed by Veles Capital

By Veles Capital

Stocks

Market today. Negative mood prevailed at the market – the principal indicators slipped seriously following the dropping Europe and weak stats on the U.S. Weak attempts to play bulls were indicated on the low liquid notes, while the blue chips were actively sold.

Market tomorrow. The foreign background seems to be negative. However the market reached the support level. Due to that possibly tomorrow the consolidation at the reached levels without any moves will be indicated.

Bonds
                                                    

Market today. On Thursday the domestic market of ruble bonds will be under slight correction. The reason for that was euro quotes reduction and also the oil quotes down, along with weak stats on the U.S. The trades went more actively on the following issues: RZD-23, Severstal MB-2, -4, Sistema-3, Lukoil-20, Bashneft-3. At the Russian Eurobond market thing were relatively calm – the deals were single. Sovereign issue Russia 30 managed to stay higher than the level of 113% of the nominal. As for the close of the order book on VTB, the bank has unexpectedly decided to cancel placement of 10-year issue. The reference point of the 5-year yield has been defined at the level of 6.45-6.50% of the nominal, however, the organizers did not make the final decision yet.

Market tomorrow. Likely on Friday the domestic bond market will continue correcting down following the oil market and currency rates. Against the given background it will be interesting to watch the new issues of Rosselhozbank entering the secondary market.

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Orders of long-term use goods in the U.S. in January grew 3% (better than expected), claims for unemployment grew by 22 thousand (worse than expected). (Interfax)
Ministry of Finance accounts budget-2010 deficit does not exceed 7% of GDP, average oil price in 2010 in the amount of 70 USD per barrel is considered to be a mildly optimistic forecast. (Kudrin)
GDP of RF in January grew by 5.2%, trade balance in January formed 16.1 bn USD. (MED)
International reserves of RF as of February 19 grew to 432.4 bn USD. (CB)
Gazprom estimates investments to development of gas deposits of Yamal in 165-199 bn USD. (Interfax)
RusHydro might announce additional emission till the end of the year, strategic investors might take part in it. (Interfax)
Fitch leaves the ratings of Evraz Group under revision with “negative” forecast. (Interfax)