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Russian stock market daily morning report (August 26, 2010, Thursday)

Contributed by Veles Capital

By Veles Capital

On Wednesday pessimistic mood was indicated at the Russian market. Mainly  that was due to the negative foreign background. In particular, the authorities of China are trying to "blow off the bubble" at the real estate market, but the stats that comes from the U.S. gets worse and worse, and expectations on recovery are not inspiring, and oil is falling. Under given conditions, the Russian market is moving downwards. Along with that shares that added in price might also be found among the dropping shares - that would be the shares of AvtoVAZ and KAMAZ, which are adding with high rates within the past two weeks. Shares of CTPZ seemed worse than the market. Note on Thursday information on the board of directors having made a decision on additional share emission.
 

Main news
 

Bad stats from the U.S.

Sale of new construction in the U.S. dropped in July by 12.4% to 276 thousand while 340 thousand was expected.
 

Index of consumers' trust grew unexpectedly in Germany.

Consumer trust index grew unexpectedly in Germany from 106.7 to 106.2 points in August while 105.7 was forecasted. So, index is climbing for the fourth month in a row, having renewed maximum within recent 3 years.
 

Rostelecom summed up the results of the offer on share buyback.

Rostelecom will direct about 6.1 bn RUR for shares buyback via offer.
 

Global demand for gold in 2Q 2010 upped by 36% y-t-y.

World Gold Council (WGC), the association of largest gold-mining companies, which occupy about 60% of gold mining, output stats of the gold-mining branch.
 

News briefly
 

Oil and gas: Ukraine requests revision of gas contracts with Gazprom.

Oil and gas: natural gas export from RF in January-July 2010 grew by 27.7%.

Energy industry: government of RF approved the list of required investment projects for energy generation companies.

Telecommunication: Comstar summed up US GAAP results of the quarter.

Retail: Magnit plans active development of self-consistent import of vegetables and fruits.

Bank sector: Sberbank summed up IAS half year results.

Machinery: Sollers group directed a claim to Vnesheconombank on getting a syndicated credit.