Reports » Russia

Russian stock market daily evening report (August 31, 2010, Tuesday)

Contributed by Veles Capital

By Veles Capital

Stocks
 

Once again slight drop took place at the market following the impact of fall at the U.S. and Asian markets. Support still comes on behalf of the climbing oil prices. The shares of Rostelecom were climbing due to old news on dividends. Also demand remained in other telecommunication companies' shares.

We do not exclude a neutral open of the market with possibilitty of further climbing following the oil quotes.
 

Bonds
                                                          
First signs of activation of trade activity of market participants of corporate issuers of market bonds appeared in the afternoon. Demand of buyers was indicated in the notes of Gazpromneft, Vimpelcom and Systema. Russian Eurobond market slipped in the afternoon due to negative foreign background, however by the trades close of the russian session it won back the positions it lost: Russia 30 returned to level of 118.30.

Activity at the russian market will likely climb a bit more while the quotes move totally neutral.
 

 
No comment
 

Consumer prices in Eurozone in August grew by 1.6%;

unemployment remained at the level of 10% in July;

in Germany unemployment remained at the level of 7.6% in August - all data at ecxpected levels.(Interfax)

2Q 2010 US GAAP net profit of LUKOIL reduced to 2.063 bn USD. (Company)

1H 2010 IAS net profit of OGK-2 grew to 1.79 bn RUR. (Company)

Norilsk Nickel plans output of 235 thousand tons of nickel, 368.2 thousnad tons of copper, 4.715 thousand tons of cobalt, 86.6 tons of palladium and 21.1 ton of platinum at its russian plants in 2010. (Company)

Balttica will payoff dividends by the results of 1H 2010 in the amount of 42 RUR per common share and preferred share. (Company).