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Russian stock market daily evening report (September 19, 2012, Wednesday)

Contributed by Veles Capital

Stocks

Market today. Against the back of the crude oil supply in the U.S. and the decision to build up the extraction by Saudi Arabia due to high prices threatening the global economy – Brent corrected down to the levels below 110 USD per barrel. Oil drop pulled the Russian indices down – inactive growth of the European indices and American futures were of no great support to the Russian market.

Market tomorrow. PMI and consumers’ confidence index in the Eurozone, initial and secondary jobless claims, accelerating indicators index and FRB of Philadelphia in the U.S. – all that comes our tomorrow. Russian market will be supported by the assets release, reserved for SPO of Sberbank.

Bonds

Market today. Once again no clear dynamics was seen at the domestic market. In the corporate sector the most significant trade volumes went on Vimpelcom-1, VK-invest-3, FNC-15, -18. Auction of the Ministry of Finance also did not cause anxiety demand. Placement volume of BFL-26209 formed a bit less than half of the planned volume, yield was set at the upper border. Eurobonds added in price slightly at the back of the UST curve roll back. Russia-42 added 50 b.p. to 118.6% of the nominal, Russia-30 added just 15 b.p. to 125.63% of the nominal.

Market tomorrow. Oil prices reduction might pressure the Russian bonds’ quotes.

News briefly

Russia – adding of the retail trade in August 2012 versus the similar period of the previous year formed 4.3%, 4.6% growth was expected. (Interfax)

Russia – unemployment level in August formed 5.2%, 5.5% was the target. (Interfax)

USA – number of new construction in August formed 750 th, 767 th expected. (Interfax)

USA – the number of issued construction permits in August formed 803 th, 798 th was expected. (Interfax)