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Russian stock market daily morning report (February 20, 2013, Wednesday)

Contributed by Veles Capital

Generally the foreign background is quite positive for the Russian stock exchange. However, by the trade close, relatively weak data on automobile sale in January came out in Europe, and that might enforce doubts about the recovery of consumer demand of long-term use goods.

Main events

JSC “Hydrostroy” obliged to compensate JSC “RusHydro” any loss, caused in course of construction of Zagorskaya GAES-2

Rate of the company’s quotes will continue sliding down for a while until all the details on the theft are cleared out.

Mechel sold unprofitable enterprises in Romania

We assume that the positive effect of given deal will be quite expressive due to expected net loss of Mechel in 2012 might reach 350 mn USD, and deconsolidation of financial results of unprofitable Romanian enterprises will allow reducing that loss.

Rebalanced MSCI Russia 10/40 might become a driver for Surgutneftegas on February 22

In case quotes of Surgutneftegas’ shares grow faster than MTS and AFK pair within a week from February 18 to 22 by 3.7% average, rebalancing of MSCI Russia 10/40 might become a driver of assets inflow to the notes of Surgutneftegas.