Reports » Russia

Russian stock market daily morning report (October 15, 2012, Monday)

Contributed by Veles Capital

The corporate report will be the main driver of this week. Primarily that would be the bank sector of the U.S. – against the back of the positive reports of JP Morgan and Wells Fargo we might be hoping for not bad results of Cititgroup, First Bancorp (Mon), Goldman Sachs (Tue) and Bank of America (Wed). Oil might be supported by the escalation of tension at the border of Syria and Turkey. Thursday-Friday the European summit will be held in Brussels, agenda is all the same as usual. We expect the Russian market to open with a gap down today.

Main events

NOVATEK output production results.

NOVATEK upped the natural gas production within 9 months of 2012 by 7.7%.

FNC might not unite with Holding.

Last week the Minister of energy Alexander Novak spoke against uniting the FNC and IRNC Holding.

IRNC Center intends to appeal against the decision of collecting 5.1 bn RUR.

IRNC Center intends to appeal against the decision of collecting 5.1 bn RUR in the favor of NLMNC.

Profit of Norilsk Nickel dropped 1H 2012 by 38% y/y.

Financial results of Norilsk Nickel totally reflected the worsened conjuncture at the non-ferrous metals market.

Operation results of OKEY Group for 3Q 2012.

OKEY Group output its 3Q 2012 operation results. Sales within the period indicated 26.3% growth versus the similar period of the past year. In 3Q 2012 LFL sales grew 4.5%.

Akron output production results of 9 months 2012.

Production volume of enterprises within Akron Groupo formed 4.4 mn tons within 9 months of 2012, which is 2% above the similar estimate last year.