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Russian stock market daily evening report (February 01, 2012, Wednesday)

Contributed by Veles Capital

Stocks

Market today. Wednesday the markets were optimistic. Gradual progress towards the end of the story with the Greece’s debt is moving the markets up. As for the stats, the data on inflation in the Eurozone was output, but it was at the expected level, so they might be taken as neutral. The most demand was on the shares of Sberbank, and the oil sector.

Market tomorrow. Further upping is possible, not far though: two strong resistance levels are close – psychological (1,600 on RTS) and technical (1,640 on RTS).

Bonds

Market today. Domestic market began a new month in high spirits: volume of trade and shares’ quotes grew significantly. In the corporate segment the average price growth formed 20-60 b.p., and the most liquid issues during the day were the following MTS-5, -8, Sibmetin-1, -2. BFL curve lost 15 b.p. average, and the additional placement of the BFL 26205 went with an all-time high oversubscription – by almost 6 times. Russian Eurobonds also added in price, at the wave of positive from the successful auction on the state bonds of Portugal. Prices of the domestic loans grew by the end of the daytime session 20 b.p. average, and the indicative issue Russi-30 added 26 b.p. and formed 118.91% of the nominal.

Market tomorrow. Increased global optimism might preserve on Thursday if the evening stats on the U.S. does not disappoint the investors. Data on spending for construction and manufacturing business activity index is expected.

News briefly

Consumer prices in the Eurozone in January grew by 2.7% (at the expected level). (Interfax)

Net profit of Gazprom for 9 months of 2011 by IAS – 924 bn RUR (+41% y/y). (Company)

Investments of Transneft in development of the system will form 356 bn RUR till 2010. (Company)

Within 2011 209 tons of gold (+3.6% y/y) has been mined in Russia. (Union of gold miners)

In January AvtoVAZ sold 32.7 th automobiles (-15.1% y/y). (Company)