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Russian stock market daily evening report (March 12, 2013, Tuesday)

Contributed by Veles Capital

Stocks

Market today. Expectations of EU summit, which will occur March 14-15, hold back the activity at the exchange grounds. Oil price going below the psychological level of 110 USD per barrel and negative stats on the industrial production in UK leaded to slight correction at the Russian market today.

Market tomorrow. Tomorrow the activity of trade probably will be held back by expectations of the summit results. As for the macrostats, attention should be focused on the industrial production ion the EU in January and retail sale in U.S. in February.


Bonds

Market today. Situation at the domestic market did not change. Sale continued in the BFLs, yield grew by 1-4 bps more. Once again single trend did not develop in the corporate segment. Buying went on RusHydro-7, -8, FNC-25, while loss indicated Bashneft-7, NLMK-8. At the domestic currency debt trade went mildly positive. The loans added about 10 to 20 bps. Russia-42 added 45 bps to 114.65% of the nominal, Russia-30 – by 20 bps to 123.77% of the nominal.

Market tomorrow. Wednesday will be full of various stats’ releases so we assume volatility might rise at the Russian debt market. Ministry of Finance will hold an auction on placing two BFL issues at once, with minimal level however, so that likely does not impact the domestic market’s dynamics.


News briefly

Russia – net profit of Gazprom Neft by RAS grew 10% in 2012 to 84.5 bn RUR. Company

Russia – net profit of LUKOIL by RAS lost 10% in 2012 to 217.8 bn RUR. Company

UK – industrial production in January reduced 1.2%, 0.1% growth was expected. Interfax