Reports » Russia

Russian stock market daily evening report (March 11, 2013, Monday)

Contributed by Veles Capital

Stocks

Market today. Late last week employment state came out in the U.S. and it appeared to be a lot better than expected. Against given background S&P 500 added 0.46%. After trade started today the Russian market has been trying to win back growth of the western markets Thursday and Friday while ignoring the bad news from China and Italy. Quotes growth at MICEX-RTS continued until Europe opened, RTS added more than 1.5%. Than same as we saw many time before this year the indices of the Eurozone started dropping fast and sale also started at the Russian market.

Market tomorrow. We expect the Russian market to continue trading in the green zone – Europe is reducing from the level it reached last Friday, while Russia is initially winning back the positive from the U.S.


Bonds

Market today. Domestic market began the week calmly as the funding cost remained high. BFL quotes are still under pressure. The long end of the sovereign curve added another 2-4 bps during the day. Corporate issues continued drifting sideways. Russian Eurobonds started the week inactively and with no clear dynamics. Russia-30 and Russia-42 added 35 bps each to 123.57% and 114.3% of the nominal respectively.

Market tomorrow. Tuesday no important events are scheduled so the Russian bonds might continue drifting sideways.


News briefly

Automobile sale in RF grew 2% yoy in Feb. Association of European Business

OGK-5 upped 2012 profit 12% to 5.55 bn USD. Company

In January 2013 Russia reduced export of power energy to far abroad 2.2 times. Federal customs service

In 2012 net profit of MOESK by RAS grew 0.77% yoy to 17.2 bn RUR.

GDP of Italy in 4Q 2012 reduced 0.9% qoq as expected. Bloomberg