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Reports Russia

Russian stock market daily morning report (August 13, 2014, Wednesday)

August 13, 2014, Wednesday, 07:43 GMT | 03:43 EST | 12:13 IST | 14:43 SGT
Contributed by Veles Capital

The foreign background for the trade open at the Russian market on Wednesday August 13 is mildly negative. We assume that the Russian market is mixed at the open and mostly in the red following the downtrend of the global grounds of the US and Europe. ATP exchange indices are mixed after output of weak data on new crediting in China, Chinese and Hong Kong indicators are standing in the red zone. Futures for American indices are trading slightly positively. Oil prices are looking down at the global grounds after output of API oil institute data on growth of the commodity supplies of the oil and fuel in the US.

Main events

Federal Antimonopoly service (FAS) of RF filed a claim of revision of case against NLMK.

Selling grain-oriented steel occupies a small share in sales; therefore we estimate the impact of FAS’ decision as an insignificant one.

2Q 2014 IAS net profit of Gazprom Neft grew 31.6% vs 1Q 2014.

For 2Q 2014 the net profit of Gazprom Neft formed 49.783 bn RUR, the target was 49 bn RUR. We estimate operation and financial estimates of Gazprom Neft are positive. High dividend yield might serve as an extra reason to buy the shares of the company – the BoD of the company has recommended to payoff intermediate dividends in the volume of 4.62 RUR per share, which forms 3.37% vs the current quotes.