Reports » Russia

Russian stock market daily evening report (March 16, 2010, Tuesday)

Contributed by Veles Capital

By Veles Capital

Stocks

Market today. While waiting for the stats from the U.S. the Russian share market showed cautious growth. In the first half of the day the bulls were winning price growth on oil and positive open of European grounds due to the news on European Union states being ready to provide financial support to Greece if necessary. The market went higher more actively after the positive stats on U.S. newly built houses and import have been output.

Market tomorrow. Late in the evening the decision by FED on the rate is expected, which will make most affect on the quotes on Wednesday. According to the forecasts the upping of the rate is unlikely to occur, so tomorrow the growth will likely continue, but on higher volumes of trades.
 

Bonds
                                                   

Market today. Day in Russia indicated light correction. Notes corrected down by 0.2-0.3 p.p. That was indicated on all the most liquid issues. Though for now the market is rather strong. There are no reasons for fixation. Most likely that was fixation after a long-term growth. Things are all strong in the Eurobonds. Russia 30 is standing higher than 115 figure.

Market tomorrow. Tomorrow the book on three year ruble bonds of VTB with the coupon of 7.8%. We see great over-demand, which once again indicates bull’s trend at the market.
 

No comment

Growth of GDP of RF will most likely form 4-4.5%. (MEDT)

Gazprom Neft will be directing at least 15% of net profit by US GAAP. (Company)

Net profit of Uralkaliy by RAS in 2009 dropped 25.5 times. (Company)

Sales of Mosenergo grew in 2009 by 18.4% on behalf of price growth for power energy and increase of selling. (Company)

Investment program of AvtoVAZ till 2020 forms 110 bn RUR. (Ministry of industry and trade)

GAZ group expects growth of sales in 2010 by 25% to 84 bn RUR. (Interfax)

Sitronics will receive 4 bn RUR from Bank of Moscow for refinancing of debts. (Interfax)

Number of newly built houses in the U.S. reduced in February reduced by 5.9%, the number of permits for construction – by 1.6%. (Interfax)