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Russian stock market daily evening report (January 16, 2013, Wednesday)

Contributed by Veles Capital

Stocks

Market today. Wednesday reports by the American banks formed the event of the day – that means report season is open. In 4Q Goldman Sachs exceeded market expectations on both: profit and sales. Net profit formed 2.83 bn USD, which is almost three times above the similar estimate of the previous year. Quarter sales added 53%. Morgan Chase & Co increased its profit in 4Q 2012 by 52% or by 1.96 bn USD in absolute terms versus the similar period of the previous year. Given news let the Russian banks close the trade in the green zone.

Highest adding at the domestic grounds occurred in power sector. The following companies’ shares were the leaders today: Mosenergo (+5.35%), FNC UES (+4.75) and RusHydro (+2.86%). Shares of Mosenergo possibly grew due to general underestimation of the company’s shares cost. According to our calculations, growth potential of the shares forms 10.45% after today’s trade.

Market tomorrow. Tomorrow the positive open of the trade at the Russian market might happen at the expense of the positive results of the American banks, which might involve particularly the Russian bank section.