Reports » Russia

Russian stock market daily evening report (August 11, 2010, Wednesday)

Contributed by Veles Capital

By Veles Capital

Stocks
 

Market today. Correction down at the Russian market goes on full ahead. Against the background of the oil loosing in price and the disappointing stats on the foreign trade in the U.S., the Russian market dropped by more than 1%. Against the given background growth is indicated on the shares of Raspadskaya – against the background of the statements by Putin on the soon recovery of the mine.

Market tomorrow. The market is gradually getting close to the strong support level. Evidently tomorrow the drop will slow down.
 

 
Bonds
 

Market today.  Partially the correction mood of the investors involved ruble debt also. On the liquid shares slight sale was indicated on Sibmetinvest, Severstal and Mechel. The most trading activity was focused on the following issues: Mechel MB-3, System-03, Sibmetinvest-01, Gazprom-11 and RZD-10. The Russian Eurobond market slipped in the first half of the trading session due to negative signals the investors saw in the statement by FED, and in the afternoon fuel was poured to fire by the stats on the U.S. trade balance that did not justify investors’ hopes. All that resulted in the sovereign loan Russia 30 having gone down to the level of 117.40.

Market tomorrow. We expect that the foreign negative has been won back and at the ruble market the factor of high liquidity will prevail.

No comment
 

Deficit of foreign trade balance of the U.S. grew in June to 49.9 bn USD, reduction to 42.1 bn USD was expected. (Interfax)

The number of unemployed in the UK dropped by 3.8 thousand in June, reduction by 17 thousand was expected. (Interfax)

Inflation in RF accelerated to 0.2% within a week from August 3 to August 9. (FSSS)

GDP of RF in 2Q 2010 grew by 5.2% in annual terms. (FSSS)

Sales of KAMAZ in 1H 2010 by RAS grew to 32.4 bn RUR. (Company)

Net profit of Akron in2Q 2010 by IAS dropped to 762 mn RUR. (Company)