Reports » Russia

Russian stock market daily morning report (January 16, 2013, Wednesday)

Contributed by Veles Capital

Output of the corporate reports today – Goldman Sachs and JP Morgan – might become the main driver of the markets. For now the American banks output positive reports – we might hope for the tomorrow’s data being of support for the bulls. As for the macrostats, note the data on industrial production in the U.S. in December and output of the Beige book. Statement of Fitch on possible ratings downgrade of U.S., France and Germany might pressure the quotes.

Main events

Surgutneftegas upped the volumes of extraction in 2012 by 1% to 61.4 mn tons.

Within 12 months of 2012 Surgutneftegas provided for expectation of 61.405 mn tons of oil.

BKK signed a contract with China on delivery of potassium chloride in 1H 2013.

Price of the contract is approximately 15% below the previous year’s price; nevertheless the price reduction for 1H 2013 has already been accounted in the stock price of Uralkaliy. The volume of contract considering the option provides for the target load of the capacities of Uralkaliy in the first half of the year at 50% level, announced earlier by the company, and seems to be a conservative one.

Sale of the light vehicles in RF in 2012 grew by 10.6 yoy. In December – by just 1% yoy.

Currently we do not see such automobile producers that might bring profit to their stockholders.

Friday the consolidated report of RusHydro fro 9 months of 2012 will be announced.

Placement of OGK-2 shares by priority right end January 17.

In case of full placement of the additional emission it gets almost 3 times bigger. Change in the company’s regulation on increase of the authorized capital stock by the results of an additional emission should be introduced not later than in May 2013.