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Russian stock market daily evening report (August 12, 2010, Thursday)

Contributed by Veles Capital

By Veles Capital

Stocks

Market today. Downward motion continues, though as expected, the reduction rates are slowing down. As for the negative, we might mention the usual dropping oil prices and weak stats on unemployment in the U.S. Basically the shares of power energy sector were falling. Strong demand was in the notes of Raspadskaya.

Market tomorrow. External factors are relatively favorable to us. However, we are not into expecting a hard drop though we assume the quotes might still slip down.

Bonds

Market today. Sale was indicated on principal liquid notes of the Russian issuers, while the trade activity of the participants remained relatively high. We might outline RZD-10, Moscow-62, Gazprom-11 and basically the long-term issues as the notes that lost in price. The highest turnover volumes were focused on the following issues: Norilsk Nickel MB-3, TransCreditBank-6, RZD-10, and Gazprom-11. Lateral motion changed to sale in the afternoon at the Russian Eurobond market after output of the claims for unemployment in the U.S. However, by the end of the Russian trade session the drop has been won back fast and the sovereign loan Russia 30 closed at about 117.75.

Market tomorrow. Good liquidity level still support the ruble market against the background of the remaining negative from the foreign grounds.

No comment

Claims for unemployment grew in the U.S. by 20 thousands up in a week. 14 thousand down was expected. (Interfax)

RAS sales of Tatneft in 1H 2010 formed 119.123 bn RUR. (Company)

RAS sales of TGK-2 grew to 14.7 bn RUR in 1H 2010. (Company)

Volgatelecom will direct 2.5 bn RUR to share buyback from the minority, Uralsvyazinform -701 mn RUR. (Company)

In 1H 2010 RAS net profit of Tattelecom grew to 302 mn RUR, sales – raised to 2.9 bn RUR. (Company)

WBD is buying back 18.4% of its shares from Danone in the amount of 470 mn USD. (Company)