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Russian stock market daily morning report (May 14, 2014, Wednesday)

May 14, 2014, Wednesday, 08:59 GMT | 03:59 EST | 13:29 IST | 15:59 SGT
Contributed by Veles Capital

Releases of data on consumers’ price index in Germany and producers’ price index in the US are scheduled for today. Negative data on retail sale in the US graded growth at the American market by the time of trade close in the US, which would reflect on the dynamics of the Russian market today.

Main events

BoD of M.Video confirmed its recommendation to pay as dividend not less than 60% of the net consolidated profit

hus, sum 3.6 bn RUR or 20 RUR per common share will be directed to dividend payments for 2013. The provisional date of stockholders’ register close for collecting dividends is July 4, 2014. the annual meeting of stockholders of M.Video will be held on June 17. We assume that the given news will make a positive reflection on the quotes of the company and will turn into a driver for recovery of the company’s capitalization.

Mechel posted operation results for 1Q 2014

The key issue is the fact that the company announced reduction of selling price of met coal in 1Q 2014 to its lowest from 2007. In addition, the company indicated reduction of demand for metal products. Moreover, given trend is likely to progress in the future.

Re-balancing of MSCI Russia

MSCI Russia will be re-balanced tonight. Excluding shares of FNC from the index (the stock lost in price over 28% after the previous revision while the general average market drop formed 6.5%) is the most likely decision of the coming revision.