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Russian stock market daily morning report (January 22, 2013, Tuesday)

Contributed by Veles Capital

We expect early today’s session the course of trade to be supported by the news background related to the measures the Bank of Japan takes. During the session the course of trade might be affected by announced stats and expectations of the positive forecast on sale at the secondary real estate market in the U.S.

Main events

Shareholders of OGK-2 bought back shares for 23 bn RUR using priority right.

Shareholders of OGK-2 bought back 46.5% of the additional emission of shares within the frames of the priority right to be placed in order to attract assets to the investment program, spending 23 bn RUR.

Price growth on steel in China

Given news together with the recent stats (growth of industrial production by 10.3% yoy and investment in the principal assets above 20% yoy) indicates sustainable improvement of conjuncture in the largest economy of the world.

PhosAgro in 2012 upped fertilizers’ sale volume by 7.8%.

By the results of 1Q 2013, we expect growth of production volumes of nitrogen fertilizers – due to launch of the complex in Cherepovets, reduction DAP/MAP by 17% with growth of NPK by 20% preserves output of phosphate at the level of 1Q 2012.