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Russian stock market daily evening report (March 04, 2010, Thursday)

Contributed by Veles Capital

By Veles Capital

Stocks

Market today. The market moved following the foreign factors, while domestic ideas were absent. Among the foreign factors we might outline the climbing oil prices and also the positive stats on the U.S. economy.

Market tomorrow. We should consider the coming week-end, which provides grounds for leaving into cash. However the foreign background is positive, which actually is a kind of a support.

Bonds

Market today. Activity of trades at the domestic market has reduced slightly versus Wednesday though likely the order from the pension funds continues entering the market. The quotes of the liquid notes added another 25-30 b.p. The issues of Moscow (49th and 45th), Mechel (4th and 5th), Sistema-2, Sibmetinvest-1 and MBRD-4 were in focus. At the Eurobond market things were relatively calm. Russia 30 was drifting around the level of 114.65% of the nominal. Severstal 2013 and Alfa-Bank 2013 were of demand in the corporate sector.

Market tomorrow. We are expecting relatively calm trades on Friday. The coming three day week-end is not the best time for entering the market.

No comment

Labor efficiency in the U.S. in 4Q 2009 grew by 6.9% (6.3% was expected), work force value dropped 5.9% (-4.5% expected), claims for unemployment within a week that ended on February 21 grew by 29 thousand (26 thousand drop was expected). (Interfax)

GDP of the Eurozone grew in 4Q 2009 by 0.1% (as expected). (Interfax)

International reserves of RF as of February 26 grew to 434.1 bn USD. (CB)

LUKOIL upped the share in TGC-8 to 100%. (Company)

TNK-BP reduced selling of oil products by 3% in 2009, having increased selling oil by 4.5%. (Interfax)

Consumption of power energy grew in RF by 5.7% in February. (System operator)

Annual meeting of KAMAZ will be carried out June 25. (Company)