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Russian stock market daily morning report (February 18, 2013, Monday)

Contributed by Veles Capital

We expect Monday trade to open at Friday close levels or slightly below that level. Most probably trade will be flat as no macroeconomic data, capable to change the mood of the investors, is expected to be output.

Main events

In 2012 Russneft gained over 8 bn RUR as net profit vs loss a year earlier.

Against the background of the company's financial status improvement, the possibility of merger of Bashneft and Russneft gets more likely. Restart of negotiations on the matter might be a reason of interest increase in the shares of Bashneft.

Norilsk Nickel will pay 2-3 bn USD in the form of dividends in 2013.

Given message is positive for the quotes as it finally breaks the doubts in large dividends to be paid. However, the key issue to affect the quotes of company is the negotiation on exchanging shares of Norilsk Nickel for a license on developing extraction at Udokanskoe deposit.

Consolidation of RusHydro has begun.

40% portfolio of IrkutskEnergo that RusHydro was fighting for, will go to Rosneftegas.