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Russian stock market daily evening report (August 02, 2010, Monday)

Contributed by Veles Capital

By Veles Capital

Stocks
 

Market today. MICEX index grew by 2.22%, and the RTS index – by 2.86%. The RTS has successfully overcome the level of 1,500 points. The oil prices overcame the level of 80 USD for the first time in May, and the index MSCI World reached the 11-week high due to good news on the profit and construction expenses growth in the U.S.

Market tomorrow. We expect growth continuation on the Russian share, supported by good news on the profit. The significant effect on the dynamics of shares will be made by the data on the individual income and spending of the U.S. citizens, which are to come out at 4:30 pm Moscow time

Bonds
                                                          

Market today. The beginning of trades promised another dull day, however in the afternoon the market participants have unexpectedly woke up. The most interest was on the notes of AIZK, the 11th issue in particular, and also on the bonds of the metallurgy companies (Evraz, Mechel and Severstal). At the same time the new issue by Norilsk Nickel entered the secondary market a bit higher than the nominal value (100.3), and by the end of the day the via 100.05% on the nominal was registered. For another day the trades are active on Evrohim-2. At the Eurobond market the activity was not high in terms of making deals, which did not stand in the way of Russia 30 upping to the level of 116.5% of the nominal, and Russua 20 – 102.5% of the nominal value. In the corporate segment interest was on the loans of Rosselkhozbank (2014, 2016, and 2018), VTB 2015 and Evraz 2013.

Market tomorrow. Despite not such an expressive beginning of the new month, we still suppose that the domestic market still has some potential for further climbing, which mainly depends on the dynamics of the currency market.

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Sales of Sibirtelecom by RAS in 1H 2010 totaled 14.404 bn RUR, having upped by 3% versus 1H 2010. (Interfax)
Uralsvyazinform, JSC in 1H 2010 has doubled net profit – to 4 bn RUR. (Interfax)
Kazan Helicopter Plant, JSC gained 1.4 bn RUR of net profit versus loss a year before. (Interfax)
Kazanorgsintez, JSC lowered the net profit in 2Q 2010 by 3.6 times. (Interfax)
Oil export from RF to far abroad in January-July 2010 grew by 3.7%. (Interfax)