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Russian stock market daily evening report (August 16, 2010, Monday)

Contributed by Veles Capital

By Veles Capital

Stocks
 

Market today. All day the markets were in the red zone, profit fixation continued due to the contradictory macroeconomic data. The most interesting trades were on Mosenergosbit, which showed climbing due to messages on high dividends. Raspadskaya was still winning back news on soon resuming of mining. The most slip at MICEX was on telecommunication and machinery companies.

Market tomorrow. We expect the key affect on trades will be made by the urge for profit fixation before the output of significant stats on launch of housing construction in the U.S. and producer prices index, which will be output at 4:30 (Moscow time).
 

Bonds
 

Market today. Trades at the ruble market of corporate bonds went on with moderate turnover volumes. Totally some sale prevailed in the principal liquid notes. The most trading activity was indicated on the issues Moscow-62 and Norilsk Nickel MB-3. Note that payoff of the main insurance premium did not affect the situation with the liquidity, rate of MKB stayed at the former rather comfort levels. The Russian Eurobond market was moderately correcting against the background of negative stats from the U.S. and reduction of the oil prices. In particular, the indicative loan Russia 30 having broken through 118th figure in the first half of the day closed near the level of 117.80.

Market tomorrow. We expect neutral motion of quotes, while activity remains moderate on the threshold of relatively important block of stats from the U.S.
 

No comment
 

Italy and Turkey lowered the volume of buying from Gazprom in 2Q 2010 by 70% and 25% respectively, versus 2Q 2009. (Interfax)

Sales of Gazprom in 1H 2010 grew by 2.7% versus 1H 2009. (Interfax)

Growth of industrial production in RF in July 2010 formed 5.9% year/year - the lowest level in 2Q 2010. (Interfax)

RAS net profit of Sberbank RF within 7 months of 2010 formed 76.8 bn RUR, which is 11.3 times higher than the similar period of 2009.(Interfax)

RUSAL filed a claim against Norilsk Nickel in Krasnoyarsk arbitrage court. (Interfax)