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Reports Russia

Russian stock market daily evening report (August 12, 2014, Tuesday)

August 12, 2014, Tuesday, 16:58 GMT | 11:58 EST | 21:28 IST | 23:58 SGT
Contributed by Veles Capital


Market today. Russian stock market showed sideways dynamics at daytime after an insignificant growth at the open. At the back of weakening of the geopolitical tension, the majority of ATP exchange indices closed positively. Exchange grounds in Europe are looking down in course of trade on Tuesday following the shares of the oil and generation companies.

The news that government of Norway made a decision to join the sanctions of EU against Russia was bad news for the domestic market. Restrictions on behalf of the state would be similar to the sanctions of EU. Particularly, the sanctions list involves the companies and persons that would not be allowed to enter the territory of state and belonging assets would be arrested.

Stock of Gazprom Neft was among the top leaders at the back of the IAS report for 1H 2014 announced today showing 12.9% growth of the net profit forming 87.6 bn RUR. Today the BoD of Gazprom Neft plans considering the matter of intermediate dividends. Note that for 1H 2013 the company paid off about 4 RUR per share, which formed dividend yield at the level of 7%. Additionally, the following stocks were outperforming the market: Rostelecom (+3.7%), Mechel (+3.4%), MegaFon (+1.9%), ALROSA (+1.7%), and M.Video (+1.7%).

Market tomorrow. We assume that morning growth of the stock market was inactive after a technical bounce upwards overnight. We expect insignificant reduction by the end of the trade session at the level of 1,368-1,376 points at MICEX and we suppose the market is mixed at Wednesday open.

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