Reports » Russia

Russian stock market daily morning report (March 21, 2013, Thursday)

Contributed by Veles Capital

We expect the shares of bank sector will be most interesting, along with shares of Gazprom (at the back of speculations on possible purchase of exploration license in Mediterranean sea), shares of Magnit and Novatek – due to expected dividends.


Main events

Finalization of the deal on TNK-BP might be announced today

Official finalization of the deal might become a new driver for the quotes of Rosneft

Net loss of FNC for 2012 upped 10 times to 24 bn RUR

Results of 2012 report by FNC by RAS should not make a significant impact on the company’s quotes on the threshold of merger with IRNC Holding

Steel smelting in February 2013 reduced in Russia by 5.1% yoy

We keep our recommendation for the investors to refrain from buying the shares of the Russian ferrous metallurgy until there appear any indications of the situation change (continuing price growth on rolled metal, increase of industrial production, growth of spending on property and automobiles)