Reports » Russia

Russian stock market daily morning report (February 02, 2010, Tuesday)

Contributed by Veles Capital

By Veles Capital

There was no remarkable dynamics indicated at the Russian share market on the first day of the last month of winter. Reports by Gazprom and Rosneft might be outlined as the principal events of Monday. Rosneft reported worse than expected so the quotes of the company’s share lost 0.9% by the end of the day, which was definitely worse than the market. On contrary, Gazprom showed 2% growth against the background of good financial results for 9 months. Once again demand appeared in the telecommunication shares, in MTS in particular. Negative affect on the market was made by the shares within the metallurgy sector, including Severstal, Polyus Gold and Norilsk Nickel, which slipped by 2.16%, 0.4% and 0.82% respectively by the end of the day. Also the bank sector was for sale also – Sberbank and VTB.
 
 

Main news
 

Gazprom provided a positive financial report for 3Q 2009.

On Monday Gazprom provided its financial report for 3Q 2009. According to the output figures the net profit of the gas concern formed 14.46 bn USD within 9 months, which is 50.8% lower than within the similar period of the previous year. In 3Q 2009 the net profit formed 5.57 bn USD, which is 6.7% lower than in 2Q 2009.
 

Rosneft provided neutral report for 2009 by US GAAP.

Within 2009 Rosneft earned 6.5 bn USD of the net profit, imparts the report of the company by US GAAP. That is 41.4% lower than the similar estimate of the previous year. In 4Q 2009 Rosneft earned 1.67 bn USD. The result on the net profit turned out to be lower than we expected – we forecasted given estimates at the level of 2 bn USD.
 

Other news
 

- American company of Severstal is starting its road show for Eurobonds for 525 mn USD.
 

- Raspadskaya upped the prices of coking coal by 30%.
 

- Rostelecom might become a shareholder in Svyazinvest.