Russian stock market daily morning report (July 30, 2010, Friday)
By Veles Capital
Despite all expectations the Russian share market showed rapid climbing on Thursday. Good stats on unemployment in Germany and the U.S., along with the report by ExxonMobil higher than expected were the principal reasons for the raise at the market. The most significant growth was indicated on the preferred shares oTransneft. Note that positive background is indicated on the given company. In particularly that would be the statement on privatizing of a share of the company, output of good quarter results, and FST having approved the raise of tariffs for the services by Transneft.
Main news
Chelyabinsk Zink Plan output operating results for 2Q 2010.
Net profit of CZP in 2Q 2010 formed 290 mn RUR, which is 28% lower than the profit of 1Q 2010. In 1H 2010 the company gained 691 mn RUR of net profit, while within the similar period of 2009 net loss formed 229 mn RUR.
Dalsvyaz: 2Q 2010 RAS results.
Sales of Dalsvyaz in 1H 2010 by RAS formed 7 bn RUR, which is 5.1% higher than last year's estimate. OIBDA upped by 1.4% to the level of 2.5 bn RUR. Net profit formed 1.2 bn RUR versus 1.1 bn RUR a year before.
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Russian stock market daily morning report (September 06, 2010,Monday)
On Friday the trading session at the Russian market was mainly quiet and calm - foreign factors were neutral. However, after output of the stats on unemployment in the U.S. the markets went upwards. Note that given data turned out to be at the forecasted levels, but after a number of "faults", when the actual results were significantly worse than the forecasted ones, the market took the "hit" of forecast target with optimism. The quotes of AvtoVAZ are still climbing. The shares pf Pharmacy Network 36.6 joined them in climbing on Friday.
Russian stock market daily evening report (September 06, 2010, Monday)
Trades were relatively calm against the background of week-end in the U.S. The most serious motion was in the second-third echelons. In particular 40% was added by NutrInvestHolding and RTK. Pharmacy Network 36.6 added a bit less. Sale began on the notes of AvtoVAZ (-12%).
Russian stock market daily morning report (September 03, 2010, Friday)
On Thursday growth continued at the Russian share market, though the rates reduced significantly versus Wednesday. Totally the foreign background was relatively calm and the market moved likely mechanically. Along with that in Russia many companies output half-year reports by IAS/US GAAP. In particular, Gazprom, VTB, Evraz, Vimpelcom and OGK-6 have output their reports. The game goes on in the notes of AvtoVAZ, which added another 5-10% depending on the share type.
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Surgutneftegas: Currency rates are putting away the dividends..., 26 November 2009
We have revised our model of Surgutneftegas. The reason for that was the output of the 3Q 2009 report, correction of our suppositions of the company’s future development, and also the postponing of the target time and evaluation one year forward. Particularly, in our model of Surgutneftegas we have corrected the former forecast of income for the current year towards reduction: on EBIT – by 2.2%, on the net profit – by 21.5%. Mainly that happened due to the corrections on the operating estimates, and also due to the continuing strengthening of Russian ruble, which, considering significant dollar liquidity of the company, turns into negative currency exchange. Due to the negative currency exchange precisely For the second quarter in a row Surgutneftegas shows low level of the net profit. The fourth quarter, as we see it, will not make an exception and we expect negative currency exchange similar to the ones in the third quarter.
Gazprom: Having passed the bottom, 23 November 2009
We have revised our estimation of Gazprom’s shares. The reason for up-dating the company’s model was the report by IAS for 1H 2009, the budget draft for the next year and corrections of WACC method calculation. The provided financial report of the gas monopoly totally brought no surprises. As it has been expected, the second quarter was worse than the first one and likely was the weakest within the whole year. In 1H 2009 the financial estimates were affected by the decline of the gas sale at all markets by 22.3% average, and by the reduction of the retail price of gas by 9.6% in the state of the far abroad and by 24% in Russia. As a result within the six months of the year 2009 sales slipped by 24.1 bn USD or by 32.8% and formed 49.285 bn USD, operating profit and EBITDA showed reduction by 56.7% and 52.6% respectively and formed 12.98 bn USD and 16.18 bn USD.
Rostelecom: Prospects are limited again, 11 November 2009
On Monday Rostelecom summed up the results of 1H 2009 by IAS. According to the report, the sales within the half year year grew by 4.4% versus 1H 2008 and formed 32.8 bn RUR. Net profit dropped from 9.8 bn RUR to 1.5 bn RUR. OIBDA margin reduced by 7.6 p.p. to the level of 17.6%.
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