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Russian stock market daily evening report (August 26, 2010, Thursday)

Contributed by Veles Capital

By Veles Capital

Stocks
 

Market today. The share market moved laterally within the range of 1,344-1,355 points of MICEX index during the day after morning bounce up. During the day the market was supported by positive data on the U.S. labor market, and dynamics of the European indices and American futures. By the results of trades all the liquid shares closed with upping. Growth leaders were the preferred shares of Sberbank (+2.53%), VTB (+2.48%) against ruble strengthing versus bi-currency basket.

Market tomorrow. Tomorrow the market participants will be expecting important stats: revised GDP value for 2Q 2010 and comments by Bernanke on the state of the economy. Also data on the number of issued permits for new construction in the U.S. will be output. Before given data comes out no significant moves are expected at the market.
 

Bonds
                                                           
Market today. The day showed technical bounce off after sale yesterday at the ruble market of corporate bonds. Among the liquids we especially active buys were on the oil sector (issues of Gazpromneft and Bashneft) and telecommunication sector (issues of Sistema and MTS), and also Moscow 61 and 62. The Russian Eurobond market bounced up in the evening due to the positive stats on unemployment having going down during the most part of the day. Resulting from that the sovereign loan Russia 30 broke through the level of 118.40.

Market tomorrow. We expect not high activity of the participants on the threshold of week-end and tax payoffs.
 

 
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International reserves of RF as of August 20 reduced to 475.2 bn USD. (CB)

Claims for unemployment in the U.S. dropped 31 thousand, reduction by 10 thousand was expected. (Interfax)

Gazprom is doubling gas delivery to Turkey via Blue Flow pipeline. (Interfax)

By the results of 7 months AvtoVAZ entered the profitable level of operating. (Interfax)

AvtoVAZ is considering a possibility of upping the retail prices from September 2010. (Interfax)

NLMC might pay off 62 Kopeks per share as 1H dividends. (Company)

2Q 2010 US GAAP net profit of MTS lowered to 354 mn USD. (Company)

Net profit of X5 Retail Group in 2Q 2010 formed 24.9 mn USD. (Company)

Passenger air services in RF grew in 7 months by 30%. (Rosaviation)