Reports » Russia

Russian stock market daily morning report (January 30, 2013, Wednesday)

Contributed by Veles Capital

Output of macroeconomic stats in the EZ and U.S., along with results of the recent FED session will be the key drivers of the market today.

Main events

Fitch confirmed the ratings of Alliance Oil at “B” level, forecast – stable.

Shares of company are still under pressure of unsuccessful results of Kolvinskoe doposit development. Nevertheless, we assume currently all the negative is accounted in the share prices, while the investors ignore the positive prospects of the company’s development.

Severstal: steel production reduced 5% q/q.

Concluding from the operation results, we downgraded our forecast of sales of Severstal by the results of 2012 by 0.07% from 13.44 to 13.34 bn USD, forecast on EBITDA from 2.22 bn USD to 2.21 bn USD. At that we keep the recommendation “BUY” with the price of 14.7 USD.

MOESK held a press conference where the new 2013 strategy has been announced.

Against the background of the conducted press-conference of MOESK, the shares of company reached their all-time high of 1.8 RUR per share.