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Russian stock market daily evening report (March 19, 2010, Friday)

Contributed by Veles Capital

By Veles Capital

Stocks
 

Market today. The movement at the market was wavy today. So, the beginning of the trading session was active against the background of total positive. Then at noon against the background of the statement by the head of ECB local correction began, which has been strengthened by the rates upping in India.

Market tomorrow. Monday will likely be with no trends at all. So, the current macroeconomic background is contradictory, and the beginning of the next week does not provide for any significant events besides another statement by the head of ECB.
 

Bonds
                                                   

Market today. The day was not much active. On the majority of notes lateral trend was indicated. There was no aggressive sale or buy. Prices remained at approximately the former levels. Activity was in VTB-1, -2, -5, Severstal, Mechel, Sibmetinvest, FLB-64, 65, and 68. Things were totally calm at the Eurobond market. But we might outline insignificant drop of Russia 30.

Market tomorrow. As for now we see the blurry background for the Monday trades. Most likely there will be no single trend. We should not be expecting great demand due to all the global indices are trading lower. In that case even the strong ruble will not be of much support.