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Reports Russia

Russian stock market daily morning report (February 19, 2014, Wednesday)

February 19, 2014, Wednesday, 09:35 GMT | 05:35 EST | 15:05 IST | 17:35 SGT
Contributed by SVS Securities

Trade in the US closed mixed showing not much optimism. Given dynamics likely indicates that optimism of the investors faded and market got close to the “overbought” territory. We expect the Russian market to open at the level of Tuesday close – within the range of 1,500-1,505 bps at MICEX. Wednesday will be poor for news, therefore, likely the dynamics of global exchange indices does not change much.

Main events

Consumer demand for gold worldwide grew 21% yoy.

Consumer demand of gold worldwide for 2013 grew 21% to all-time high level of 3.86K tons.

Rusal: 2013 production results.

Generally the results might be estimated positively.

February 19, LUKOIL will output the 4Q 2013 and 2013 FY financial results.

We expect the net profit for 4Q 2013 to be at the level of 2.65 bn USD (vs 3.1 bn USD for the previous quarter).

Power energy: According to Vedomosti newspaper, Mikhail Prokhorov made another attempt to sell Quadra.