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Russian stock market daily evening report (February 06, 2013, Wednesday)

Contributed by Veles Capital

Stocks

Market today. Wednesday trade at the Russian exchange market started with insignificant growth, after which correction began. Generally motion of the Russian main indicator was pretty much alike Tuesday trend – insignificant growth, accompanied by correction down afterwards. In the afternoon oil prices corrected down against the background of increase of oil reserves in the U.S. Official stats will be output today at 7:30 pm MSK. Also the main Russian index was dropping at the expense of correction of the European indices due to unstable economic situation in Europe.

Today power energy sector was among the growth leaders – shares of the sector’s largest companies are climbing. Shares of Inter RAO added about 0.7%, but once again the shares of E.ON. Russia (+2.6%) are adding the most. Shares of company are confidently growing for the 2nd month in a row. The coming session of the BoD of company on the matter of dividends make given shares even more interesting.

Market tomorrow. Tomorrow the Russian market will be affected by several factors at once. Oil reserve in the U.S. will be the first (comes out this eve) and base rate of ECB (4:45 pm) will be the second factor to affect the trade.

Bonds

Market today. News on launch of Euroclear returned investors’ interest to ruble debt. At Wednesday trade more than half of the deals was made on BFL. Their quotes grew 10-20 bps, yield reduced 2-4 bps. In the corporate segment activity was not high. Eurobonds traded with light positive. Russia-42 added 75 bps by the end of the day to 118.04% of the nominal, Russia-30 – 35 bps to 125.38% of the nominal.

Market tomorrow. News on launch of Euroclear returned investors’ interest to ruble debt. At Wednesday trade more than half of the deals was made on BFL. Their quotes grew 10-20 bps, yield reduced 2-4 bps. In the corporate segment activity was not high. Eurobonds traded with light positive. Russia-42 added 75 bps by the end of the day to 118.04% of the nominal, Russia-30 – 35 bps to 125.38% of the nominal.

News briefly

Rosneft upped oil extraction in January in 2013 by 3% to 10.8 mn tons. Company

Fitch assigned rating in national currency to Bank of Moscow “BBB”, forecast – “negative”. Interfax

Proved deposits of hydrocarbons of LUKOIL form 17.3 bn barrels in oil equivalent. Company