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Russian stock market daily evening report (January 23, 2013, Wednesday)

Contributed by Veles Capital

Stocks

Market today. Yesterday’s statement on White House representatives on supporting the project of upping the state debt limit was the key driver for the markets. Given news actually cancels the risk of democrats being against the offer of the republicans not willing to keep the levers of pressure in the hands of the Representatives Chamber. The corporate reports season continues in a positive tune – such familiar companies like McDonald’s and Unilever reported better than expected. Bank notes lead the Russian market against the background on financial results output, Magnit returned to growth after profit fixation yesterday as the company output positive report.

Market tomorrow. This evening after the trade closes in Russia, Congress will vote on the project of the state debt, but currently the markets are almost sure that the project gets approved, which means the positive result will not become a great growth driver. PMI in China and EU, along with the data on jobless claims in the U.S. might turn out to be much more important.

Bonds

Market today. The day was calm at the ruble debt market and the loans quotes moved near previous values. Despite not high trade activity, the Ministry of Finance managed to place two issues of BFL in almost the full volume by the upper border of the announced ranges. Eurobonds also stood still for the most part of the day. Along with that, Russia-42 lost 30 bps down to 121.2% of the nominal, Russia-30 – 10 bps to 126.7% of the nominal.

Market tomorrow. Thursday the investors into Russian notes might focus on the stats on industrial production in China and EU.

News briefly

PIK group built up its sales in 2012 yoy by 30% to 67.5 bn RUR. Company

Net profit of Bank of Moscow by RAS in 2012 upped by 45% to 8.2 bn RUR. Company

Net profit of bank Vozrozhdenie by RAS in 2012 grew 32% to 2.3 bn RUR. Company

RAS net profit of VTB for 2012 grew 2% to 21.6 bn RUR. Company

DIKSI upped its sales in 2012 by 43.8% to 147 bn RUR. Company