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Reports Russia

Russian stock market daily morning report (May 27, 2014, Tuesday)

May 27, 2014, Tuesday, 12:28 GMT | 07:28 EST | 15:58 IST | 18:28 SGT
Contributed by Veles Capital

We suppose that the current week will be relatively calm. Consumers’ confidence index Conference Board will be posted today. Revised estimation of the GDP of the US for 1Q 2014 will be releases on Thursday. Election in the European Parliament was an important event. We expect that in case the market opens at the back of no new negative, the Russian stocks likely keep their positive dynamics. However, after a long-term growth the participants will be looking for a proper moment to take out profits.

Main events

Pharmacy Chain 36.6 will be buying back the shares from stockholders, willing to sell the notes of the company they hold for 14.4 RUR per share.

Given decision was made by the BoD of the company at the meeting on May 23. At the trade close on May 22, the shares of the pharmacy chain 36.6 at Moscow Exchange cost 14.33 RUR per share. Thus, the notes will be bought back with a small premium vs the market (0.5%).

Sergey Chemizov announced the value that Troyka Dialog believed sufficient to sell its shares to Daimler.

Our fair estimation of the cost of KAMAZ is significantly below the one announced above – according to our estimation, the target price forms 1.28 USD vs the estimation of Rostech at 3.4 USD.