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Russian stock market daily morning report (February 05, 2010, Friday)

Contributed by Veles Capital

By Veles Capital

Thursday turned out to be losing on all counts for the Russian share market. The RTS index did not manage to stay higher than 1,500 points and rolled back to January levels. The reason for decadent mood was the negative conjuncture of the commodity and exchange grounds. The oil prices went down to 74 USD against the background of dollar rate increase and growth of fuel supplies in the U.S. Besides, in the afternoon the stats on the U.S. labor market turned out to be worse than expected, which leaded to the drop of foreign exchange grounds and accelerated the reduction of the domestic indices. A wave of sale swapped the oil shares – Gazprom, Rosneft and LUKOIL. Bank sector was in active sale also. The shares of the telecommunication and consumer sectors looked better than the market – branch indices slipped by just 0.8% and 1% respectively.

Main news
 

FNC reported by IAS for 6 months of 2009.

Sales of FNC by IAS within 6 months upped by 26% versus the similar period of 2008 and formed 42.2 bn RUR, which occurred on behalf of power transportation tariff increase. Expenses of the current activity of FNC grew by 16% and formed 35.5 bn RUR.
 

Loss of AvtoVAZ in 2009grew significantly, having exceeded the 9 months 2009 level.

In 2009 the net loss of AvtoVAZ has upped significantly versus 2008, having exceeded the level of 9 months of 2009. By the end of 2010 the company accounts on making “zero” operating profit and EBITDA to reach the level of 4.5 bn RUR.
 

Other news
 
- RusHydro plans to correct the agreement with RusAl on BEMO.
 

- United Rostelecom will be listed abroad…
 

- …and might up the debt by 26 bn RUR.
 

- Alfa-Bank is once again throwing sand in the wheels of GAZ.