Reports » Russia

Russian stock market daily morning report (February 26, 2013, Tuesday)

Contributed by Veles Capital

We assume today the established foreign background is signal for correction at the Russian market. Wednesday the statement of the FED’s chairman Ben Bernanke with a report on the monetary-credit policy to Congress will set the course of trade.

Main events

Prokhorov sold his share in Polyus Gold for 3.15 USD per share.

Shares of Polyus Gold were sold for 3.15 USD per share while the average price within a half year formed 3.36 USD per share. Such a low price of the deal should inevitably make a negative impact on the quotes of company.

Revolving storm moving towards Australia might lead to suspension of the largest export iron-ore terminal.

We do not expect given event to make a significant positive effect on the Russian iron ore miners Mechel and Metalloinvest, however, price growth on metal crude materials might make a relatively negative effect on the rates of industrial growth of China.

Strategic development project of power network complex has been placed on the websites of Ministry of Energy, FNC UES and IRNC Holding.

In case of a rational approach, policy of lowering the levels of loss on networks allows building up profitability of business, and the idea of attracting private investors might expand the volume of money assets for investments with a significant openness of business.