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Russian stock market daily evening report (October 04, 2012, Thursday)

Contributed by Veles Capital

Stocks

Market today. The exchange market was pessimistic again – market feels the lack of growth drivers and players are not active enough. Today’s sessions of the regulators introduced no news. At the session of Bank of England the majority of Committee members voted for preservation of the assets buying volume at the former level – 375 bn pound sterling. Key rate of ECB remained at 0.75%. The Russian market was unwillingly winning back same ideas: Irkutskenergo, IRNC CV, Systema, Uralkaliy and Akron were above market. IRNC Holding and FNC (due to statement by Dvorkovich on necessity to wait 9 months to join), TGK-13 and Mosenergo were drop leaders.

Market tomorrow. Investors will be winning back the news from protocols of FED (10 pm tonight) tomorrow morning. As for the macrostats, which might affect the course of trade tomorrow is the report of the American labor market.

Bonds

Market today. BFLs were actively bought ay the domestic market. Prices of many issues grew 15-30 b.p., yield reduced 2-6 b.p. In the corporate segment we might outline only Vimpelcom issues, which added 20-35 b.p. by the end of the day. Currency bonds closed the daytime session with not much change. Over 20 b.p. change was on the loans of Severstal-16, -17, RSHB-17, VEB-17. At that the Eurobonds of VTB loans in price. In the sovereign curve single dynamics did not develop. Buying prevailed at the short section of the curve and sale – at the long section.

Market tomorrow. Friday participants will refer to the data of FED’s minutes. In case their output brings no surprises, the end of the week might be flat.

News briefly

UK – the key rate of Bank of England remained at 0.50% level in October, as expected. (Interfax)

Eurozone – the key rate of the Central Bank remained at the former level in October – 0.75%, as expected. (Interfax)

USA – the number of initial jobless claims formed 367 th within the previous week, 379 th was expected. (Interfax)

Nizhniy Novgorod branch of TGK-6 for 9 months of 2012 cut power energy output 10.4% to 3.5 bn kW per hour. (Company)