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Reports Russia

Russian stock market daily morning report (September 02, 2014, Tuesday)

September 2, 2014, Tuesday, 10:08 GMT | 06:08 EST | 14:38 IST | 17:08 SGT
Contributed by Veles Capital

The Russian exchange market showed mixed dynamics at Monday daytime with high volatility prevailing. Oratory of the vice-president of the State Council of China on Chinese party speaking against any type of sanctions against Russia, and attempts to hold back development growth in Russia served as a reason of growth. Moreover, he announced further development and expansion of cooperation with Russia. Extra positive news background had been formed in Minsk, where the meeting of the contact group on Ukraine, involving representatives of DPR, Russia and Ukraine. Resulting from the meeting, the parties had exchanged opinions and offers on the issues of peaceful solving of the conflict at the East of Ukraine and took a temporary time-out till Friday in order to work of the offers of both parties in detail.

We assume that most likely the Russian market proceeds with a downside trend due to alarms about the sanctions pack to be expanded.

Main events

NOVATEK might build up dividends for 1H 2014 by 50%.

The board of directors of NOVATEK has recommended the stockholders’ meeting to payoff intermediate dividends for 1H 2014 in the volume of 5.1 RUR per share, dividend yield vs the current quotes forms 1.4%.