Reports » Russia

Russian stock market daily morning report (January 31, 2013, Thursday)

Contributed by Veles Capital

S&P 500 index slipped 0.39% yesterday and FTSE 100 lost 0.25%. Together with unexpected reduction of GDP of the U.S. in 4Q 2012, that leaves not a single chance to grow for the Russian shares. We suppose today the investors will continue fixating their positions.

Main events

Enel OGL-5 built up power energy output in 2012 by 5%, selling – by 6%

After a preliminary correction of the model on operation results considering the power energy output increase by 5%, potential growth of the company’s shares rates forms about 6%.

PhosAgro gained international credit ratings on the threshold of Eurobonds placement

Fitch assigned BB+ rating to PhosAgro, forecast – “stable”, Moody’s – long-term rating Baa3, forecast – “stable”.

Polymetal built up production by 31% yoy

Annual output by Polymetal grew 31% yoy to 1.063 th ounces of gold equivalent, having exceeded the initial production plan by 6%. We estimate the given results are neutral.

NLMK cut finished-product output in 4Q 2012 by 5.2% qoq to 3.7 mn tons

We assume given result of NLMK is neutral.