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Russian stock market daily evening report (January 27, 2012, Friday)

Contributed by Veles Capital

Stocks

Market today. The last trade day of the week brought slight reduction to market due to correction at global markets. The weak stats that came out worsened the drop. But that, the day was calm, with not high volatility.

Market tomorrow. We assume the market might show slight reduction within correction versus growth, indicated thought January.

Bonds

Market today. Russian bonds continued adding in price against background of rally at the European debt market. Ruble loans added about 15 b.p., and the most demand was for the issues FNC-15, -18, RSHB-5 and bonds of metallurgy companies. Buying went in BFL, yield dropped 10 b.p. average. Russian Eurobonds began the day with reduction, but in the afternoon the market got inspired by the results of auction on the Italian bills. Indicative issue Russia-30 was at the level of 118.64% of the nominal, which is 16 b.p. above the level of Thursday close.

Market tomorrow. Early next week the investors will be referring to the results of negotiations of Greece with private creditors, which are expected to be completed within the nearest dates.

News briefly

GDP of the U.S. grew in 4Q 2011 by 2.8% (3% upping was expected). (Interfax)

MMC smelted 3.1 mn tons of steel (-2% q/q), 15% upping of production is planned in 2012. (Company)