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Russian stock market daily evening report (February 28, 2013, Thursday)

Contributed by Veles Capital

Stocks

Market today. After the market opened with a gap upwards, the macrostats from Europe and the U.S. drove the Russian market. Increase of the number of jobless claims in Germany by 3K and increase of the unemployment level by 0.1% vs the previous month and forecast, shivered the Russian marker and led to reduction of the RTS index by 0.8%. At 5:00 pm MSK February CPI in Germany was released. Index was 0.1% above the target, so the annual inflation rate formed 1.8% (forecast – 1.7%). Against the background of the improvement of the GDP change in the U.S. below target – 0.1% (forecast – 0.5%), America opened negatively. Due to that within the last minutes of trade in Russia MICEX reduced and formed -0.4% vs Wednesday close. The number of jobless claims in the U.S. both initial and secondary has reduced.

Market tomorrow. Tomorrow open will depend on the way Europe closed tonight as today a lot of macrostats, both positive and negative came out.

Bonds

Market today. Ruble debt market was still trading with no single dynamics. Buying prevailed in the BFL as the global sentiment got better (-1-3 on the yields). Corporate issues were mainly losing in price. VTB Mb-7 lost 8 bps, Alfa Mb-8 – 17 bps, VEB-21 – 22 bps. Eurobonds added about 15-30 bps. Russia-42 added 55 bps to 116.4% of the nominal, Russia-30 – 15 bps to 124.7% of the nominal.

Market tomorrow. Friday the Russian market will be affected by the results of the negotiations of Obama with Congress on cancellation of the state spending cuts and stats on China, which will be output within the morning hours.

News briefly

BoD of Severstal recommended to pay dividends for 4Q 2012 in the volume of 1.89 RUR per share. Company

Shareholders of Synergy approved buyback of 5% of shares for 470 RUR per share. Company.

TNK-BP expects output to grow 1% in 2013, capital expences will form 6.5 bn USD. Company.

Net profit of TNK-BP by IAS in 4Q 2012 reduced 30% to 1.9 bn USD. Company.