Reports » Russia

Russian stock market daily morning report (March 22, 2013, Friday)

Contributed by Veles Capital

At the back of negative close of trade in Europe and the U.S., the Russian market will be “bearish”. The market will also be volatile to any kind of news received from Cyprus.


Main events

Mechel will supply 960 K tons of met coal to Baosteel.

We believe entering the market of China will be rather positive for Mechel as metallurgy industry of the state suffers the deficit of coal at the domestic market due to low volumes of mining within the state. Deficit will guarantee higher price of Mechel’s coal vs the domestic price in Russia.

Shares of RusHydro will be included in the trade system “T+2” at Moscow stock exchange.

Investors might consider the fact of shares of RusHydro getting included into the list of stocks for trading within “T+2” system at Moscow exchange with partial backing and deferred execution of deals, as a stimulus of company’s quotes growth.

Rosneft finalized all legal and financial formalities on buying a 100% stock of TNK-BP

As we expected, finalization of the deal became a strong driver for the quotes of Rosneft yesterday. We assume news background of Rosneft will remain positive in the nearest future.