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Russian stock market daily morning report (October 09, 2012, Tuesday)

Contributed by Veles Capital

Trade at MICEX closed Monday with quotes reduction on the majority of sectors. Most volatile shares of the power energy sector were the drop leaders (IRNC Holding and RusHydro). Slight upping was on the shares of FNC, Inter RAO and Magnit.

Mood of the investors was worsened by the statement of the prime minister of Greece Antonius Samaras on Greece to be forced to announce default in November 2012 in case Three of international creditors (EU, ECB and ICF) do not approve giving another transfer of bail to the state. Such a rough and overt blackmail on the threshold of the auditors’ report that worked in Greece and the first visit of chancellor of Germany Angela Merkel might only make things worse.