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Russian stock market daily evening report (August 25, 2010, Wednesday)

Contributed by Veles Capital

By Veles Capital

Stocks
 

Market today. Pessimism still reigns the market being caused by the reduction of oil prices, and also the continuing raise of alarms on recovery of economy of the U.S. Rapid growth, despite everything, still goes on in the notes of KAMAZ and AvtoVAZ. Despite, Sale was on CTPZ, after the messages on the additional emission of shares  being adopted by the board of directors.

Market tomorrow. We do not exclude continuation of reduction and relate that with the possible sale due to the expectation of U.S. authorities to lower forecast of GDP growth.
 
 

Bonds
 
Market today. Correction prevailed at the ruble market of corporate bonds while the turnover volume remained low. Among the liquid notes we might outline sale in Moscow-62, and also the notes of metallurgy works (Sibmetinvest, Mechel, etc.) and Bashneft. Against the background of the negative stats output in the U.S. and the reduction of oil prices involved the market of Russian Eurobonds. As a result, the indicative loan Russia 30 traded lower than 118.00 by the end of the day.

Market tomorrow. Pessimism of investors, provided by the extremely negative foreign background, will likely remain.
 

 
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Orders of long-term use goods in the U.S. grew in July by 0.3%, upping by 3% was expected. (Interfax)
From August 17 to 23 inflation in RF formed 0.2%. (FSSS)

Export of natural gas in RF in January-July 2010 grew by 27.7% in year to year terms. (MED)

Sales of TGK-7 by IAS grew to 4.5 bn RUR within 2009. (Company)

IAS net profit of Sberbank in 2Q 2010 formed 20.8 bn RUR. (Bank)

Board of directors of Rostelecom approved the share buyback from minority for the sum total of 6.1 bn RUR. (Company)

Net profit of Comstar by US GAAP in 2Q 2010 formed 48.8 mn USD. (Company)

Sollers accounts on gaining positive operating profit by the end of 2010. (Interfax referring to Sobolev)