Reports » Russia

Russian stock market daily morning report (January 23, 2013, Wednesday)

Contributed by Veles Capital

Stocks

Market today. News on profit targets’ downgrade in Deutsche Bank was negative for the European market. Against given background the Russian market started moving down too. At MICEX the most reduction indicated the shares of gas extracting companies and the bank sector. The following shares were the growth leaders: OGK-4 (due to good operation results), Aeroflot. Polyus Gold is climbing on the threshold of the production results output.

Market tomorrow. We expect the stock markets to win back their drop due to announcement of the new program by the Bank of Japan and growth of the business confidence index in Germany.

Bonds

Market today. The Russian market once again had a calm day. In ruble bonds, non-aggressive buying indicated on the note of the investment category: NLMK-8, Megafon-5, and RSHB-3. Quotes grew within 15 bps. BFL segment did not show single dynamics. Eurobonds continued moving within the frames of the sideways trends. At the end of the daytime session Russia-42 traded at the level of 121.54% of the nominal, Russia-30 – 126.82% of the nominal.

Market tomorrow. Volume of trade on the Russian notes will remain not high overnight to voting in United States’ Congress on the state debt limit. Besides, extra pressure on ruble segment of the market will be made by the tax payments factor.

News briefly

Oil extraction by Rosneft in 2012 exceeded forecast and formed 125.8 mn tons. Sechin

Nordgold in 2012 reduced gold mining by 5% yoy to 716.9 th ounces. Company

Net profit of Magnit (IAS) grew in 2012 by 92% yoy up to 803.9 mn USD. Company