Reports » Russia

Russian stock market daily evening report (July 28, 2010, Wednesday)

Contributed by Veles Capital

By Veles Capital

Stocks

Market today. Today was another calm day at the market. Calm inside and outside Russia. Quotes were idly moving following the main indicators with no significant volumes. LUKOIL was looking good – the notes added 3% due to news on the buyback of its shares from American Conoco.

Market tomorrow. We expect the quiet and calm trades at the market due to serious factors capable of moving the market are absent.
 

Bonds
                                                          

Market today. The trading day began relatively optimistically, however high cost of REPO (3.9-4.7% annually), together with the increased volatility of the domestic share market, has provoked the correction. Final drop of liquid shares drop did not exceed 20 b.p. average. During the day the most active trades was on the issues of Bashneft, Transneft and Evrohim, also on Rosselhozbank-8, LUKOIL MB-2 and Moscow-61. At the Eurobond market the seller won at the end. Sovereign issue Russia 30 by the end of the session lowered to 115.4%, which is 40 b.p. lower than the open.

Market tomorrow. On Thursday we expect another idle day in terms of activity with prevailing correction mood. However, the situation might improve with the beginning of the month.
 

No comment
 

Orders for long-term use goods dropped 1% in U.S. in June; growth by 1% was expected. (Interfax)

RAS net profit of LUKOIL for 1H 2010 grew to 137.4 bn RUR. (Company)

LUKOIL will buy its own shares from Conoco for 3.44 bn USD, the company has an option for buying back the remaining 11.61% of its own shares. (Company)

WGC-5 in 1H 2010 upped its net profit by IAS to 3.73 bn RUR. (Company)

In 2Q 2010 TGC-11 gained net loss by RAS in the amount of 457.7 mn RUR. (Company)

RAS net profit of Irkutskenergo formed 1.5 bn RUR in 2Q 2010. (Company)

RAS net profit of GAZ formed 337 mn RUR in 2Q 2010. (Company)

Net profit of WNT formed 1.4 bn RUR in 2Q 2010. (Company)