Reports » Russia

Russian stock market daily morning report (March 14, 2013, Thursday)

Contributed by Veles Capital

Weak data on industrial production in euro zone and start of another stage of debate in Congress on the plan of cutting budget deficit might increase volatility at the stock markets. On the other hand, election of the new pontiff might make a positive effect on the financial markets.


Main events

Uglemetbank – subsidiary of NPF “Mechel-fund” – might buyback 5% of Vanino port from the minority with a 40% discount to auction price.

Rosneftegas might spend 8.2 bn RUR for buying back the shares of Gazprom

Nevertheless, from fundamental standpoint, the prospects of the company’s shares are not quite optimistic.