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Reports Russia

Russian stock market daily morning report (February 04, 2014, Tuesday)

February 4, 2014, Tuesday, 11:03 GMT | 06:03 EST | 16:33 IST | 19:03 SGT
Contributed by Veles Capital

American and European stock indices’ downswing on Monday right after a lot-worse-than-expected ISM manufacturing has been posted in the US for January 2014 does not leave a chance to the Russian stock market. However, possibly the reduction of RTS and MICEX indices is not large scaled as the futures for Dow Jones Indus. Avg and S&P 500 are already trading in the green zone, which might indicate improvement of the investors’ expectations at the stock markets.
Main events
Thermal generation spoke against liberalization of prices of the capacity of HEPS in Siberia.
E.ON Russia sent a letter to Ministry of Energy stating its alarms about liberalization of participation of HEPS at the capacity market. The management of the energy company states that the measures offered by the Ministry of Energy on liberalization of participation of HEPS at the capacity market might make a negative reflection on the thermal generation and consumers. According to our calculations, the company might lose up to 3% of its sales.
IAS report of Rosneft for 4Q 2013 will be posted today.
Worsening of market conditions for 4Q 2013 will make a negative impact on the financial results. Considering the current market conditions the report will unlikely turn into a driver of the company’s quotes growth.
Holders of Bashneft approved reorganization of the company.
Authorized capital stock of Bashneft will be cut resulting from settling 20.2% of common shares of Bashneft that belong to CJSC Bashneft-Invest, which is joining the company.

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