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Russian stock market daily evening report (October 08, 2012, Monday)

Contributed by Veles Capital

Stocks

Market today. European and American indices of shares were reducing during the trade session on the threshold of the meeting of the ministers of Finance of the Eurozone. That set the negative mood at the Russian share market also. At MICEX the investors cut their positions in the majority of sectors. As usually, the most volatile shares of the energy sector companies (IRNC Holding and RusHydro) were the reduction leaders. Slight growth was only on the shares of FNC, Inter RAO and Magnit.

Market tomorrow. We expect the mildly negative course of trade at the Russian share market.

Bonds

Market today. Russian debt market began the week calmly waiting for news from Europe. Slight buying went in the ruble bonds were indicated on the issues MTS-4, -8, Rusal-7, MSP Bank-1. In BFL curve no significant changes occurred. Quotes of the Eurobonds late this session showed minimal changes relating Friday. Russia-42 traded at the level of 121.63% of the nominal (+4 b.p.), Russia-22 – 112.6% of the nominal (-10 b.p.).

Market tomorrow. Participants still are waiting for signals from Europe and beginning of corporate reports output in the U.S. Against the given background the quotes of the Russian loans might show sideways dynamics.

News briefly

Sale of new light passenger and light commercial vehicles in Russia in September 2012 grew 10% y/y to 259.582 th vehicles. (Association of European Business)

FAS of RF announced Sollers, UAZ and Distribution Center of UAZ having violated the law on protecting competition for coordination of prices at trade. (Interfax)

Import of goods in Russia from state of far abroad grew 4.5% y/y for January-September 2012 to 196.5 bn USD. (Interfax)

Volume of industrial production in Germany reduced in August 2012 by 0.5% versus the previous month. (MEDT of GFR)

Export from Germany upped 2.4% versus July. (Federal statistics Agency of GFR)