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Russian stock market daily evening report (January 30, 2013, Wednesday)

Contributed by Veles Capital

Stocks

Market today. Trade at MICEX opened with quotes’ gap upwards – that was the effect of the shares growth in Asia and S&P 500 index on Tuesday. However, as the trade opened at the exchange markets of Europe, the shares dynamics at MICEX changed its direction. Trade in Western Europe was of mild character – traders were passive on the threshold of announcing the results of the FED session in the U.S. At MICEX the growth leaders were the shares of Aeroflot (while waiting for privatizing), M.Video (results of selling in 2012). Sberbank and Surgutneftegas also were among the growth leaders, which have already added 16% since the beginning of the year. Steel smelting companies were in the red zone (Severstal, MMK, and NLMK) against the background of 4Q 2012 operation results output. Quotes of Akron continued reduction for the eighth session straight – possibly the production results of 2012 leaded to re-estimation of the company downwards.

Market tomorrow. By the trade close at MICEX unexpectedly weak results came on the GDP of the U.S. in 4Q 2012 – we assume the share indices in Russia and Europe will be reducing tomorrow independently from the statement of Bernanke.

Bonds

Market today. Trade at the domestic market went with no clear dynamics. In BFL segment local sale was indicated in th issues 26203, 26207, 26208. In the corporate sector quotes were near the former levels. Eurobonds continued dropping despite the sideways dynamics of the UST within the daytime hours. Corporate segment lost 60-100 bps, sovereign notes slipped by 1.5 figures average. Russia-42 late this daytime session traded at 118.02% of the nominal, Russia-30 – 124.92% of the nominal.

Market tomorrow. Data on U.S. GDP for 4Q turned out to be discouraging, so in case Bernanke does not make any positive surprises in course of the statement in the evening, Thursday the market might be correcting.

News briefly

GDP of the U.S, reduced in 4Q by 0.1%. Target was at 1.1%. Bloomberg

Enel OGK-5 built up power energy output in 2012 by 5% yoy, sale – 6% yoy. Company

Consumer prices in Russia January 22 through 28, 2013 grew 0.2%. Since early January prices grew 0.8%. Rosstat

Polymetal Int. Upped gold output in 2012 by 33% yoy to 589 th ounces. Company

NLMK in 2012 produced 14.9 mn tons of steel, which is 25% above the estimate of the previous year. Company