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Russian stock market daily evening report (January 21, 2013, Monday)

Contributed by Veles Capital

Stocks

Market today. Trade was neutral: week-end in the U.S. held back the activity of investors. Confident growth at MICEX showed the notes of the bank, transport and non-ferrous sectors.

Market tomorrow. We assume the course of trade at the share markets will be defined by intermediate results of the meeting of the ministers of finance of EZ.

Bonds

Market today. The day at the ruble notes market was rather flat in the volume of trade and quotes motion. As usually the most trade volumes went on the state notes. At that, no special demand was on the notes, but the corporate issues shows strong increase of buyers’ interest in case of price drop. At the foreign market the quotes were 5-10 bps below Friday against the background of the holiday in the U.S.

Market tomorrow. We assume that within the nearest future the participants of the domestic market continue focusing on the liquid corporate issues. Powerful correction in BFL segment likely closed.

News briefly

OKEY expects sales growth in 2013 plus 24-28% yoy. Company

European bank of reconstruction and development upped the target of RF GDP growth in 2013 from 3.3% to 3.5%. Interfax

PhosAgro increased the volume of selling fertilizers by 7.8% yoy to 5.3 mn tons. Company

Ministry of economic development forecasts 0.7-0.9% inflation in January. Interfax