Reports » Russia

Russian stock market daily evening report (August 27, 2010, Friday)

Contributed by Veles Capital

By Veles Capital

Stocks
 

Market today. As we expected, the market climbed slightly up, the open was weak though. The main growth was indicated after output of data on revision of the U.S. GDP revision. Buying was on in the preferred shares of Rostelecom, other IRC, and also metallurgy companies (MMC and NLMC). Demand faded in AvtoVAZ and Kamaz, which caused slipping of their quotes.

Market tomorrow. We see no reasons for resumption of fall. Consolidation and further growth are possible.
 

Bonds
                                                        
Market today. Participants of corporate ruble bonds market expectedly did not show any interest today. Trade activity was expressed in single deals on main liquid notes, prices motion went in traditional lateral trend. The Russian Eurobond market opened with gap downwards but by the end of the day won back half of positions lost - thanks to the revised data on GDP of the U.S. Resulting from that Russia 30 was trading higher than 118.30 level by the trades close time.

Market tomorrow. The last day of tax payoffs will unlikely introduce any significant corrections to the trade activity of the market participants.
 
 

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Ministry of trade of the United States revised estimate of GDP upping in 2Q 2010 to 1.6%, reduction buy 1.4% was expected. (Interfax)

In 2Q 2010 growth of GDP of UK has been upped to 1.2%, no changes were expected. (Interfax)

In 2010 investments of Tatneft will form 58 bn RUR. Company plans selling deposits outside Tatarstan. (Interfax referring to Takhautdinov)

AvtoVAZ plans changing its work with dealers. (Interfax)

Aeroflot upped the passenger air service in July to 1.2 mn. (Company)

Net profit of Kalina in 1H 2010 by IAS grew by 5.3%. (Company)