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Russian stock market daily evening report (September 21, 2012, Friday)

Contributed by Veles Capital

Stocks

Market today. Indices were mixed at the Russian market today. Shares of Magnit looked better than the market after correction this week. RAO UES East continued growth against the background of continuing reorganization of company, Mechel was climbing also. The most correction was on the quotes of preferred shares of Transneft and common shares of Surgutneftegas.

In the second echelon a high rise went in Yakutskenergo. Quotes of the company grew 30% due to news on the offer of the minority on behalf of RAO UES East (within the frames of required offer).

Market tomorrow. Next week promises to be more interesting in the light of macrostats output. Final estimation of U.S. GDP for 2Q 2012 will be output. Nevertheless, in the light of the decision made about launching QE, European and Asian news might be more interesting.

Bonds

Market today. Trade at the domestic market once again was not expressive. Quotes of BFL upped slightly versus Thursday, but yield reduction did not go over 1-2 b.p. In the corporate segment deals were single and focused mainly in the loans with short duration. Prices of Eurobonds varied near the former values. Russia-42 added 12 b.p. by the end of the day and formed 118.25% of the nominal, Russia-22 – did not change (111.33% of the nominal).

Market tomorrow. Early next week the quotes of the Russian loans will continue moving sideways, waiting for the new signals from the foreign grounds.

News briefly

In reaction to the claim of Gazprom Dmitriy Medvedev ordered to analyze the possibility of introducing varied MET. (Interfax)

Net loss of Raspadskaya by IAS in 1H 2012 formed 19 mn USD versus profit a year earlier. (Company)

Uralkaliy signed a settlement agreement on anti-monopoly claims of American buyers for 12.75 mn USD. (Company)