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Reports Russia

Russian stock market daily morning report (September 04, 2014, Thursday)

September 4, 2014, Thursday, 11:48 GMT | 06:48 EST | 15:18 IST | 17:48 SGT
Contributed by Veles Capital

We assume the domestic stock market remains positive at the open on Thursday, but we do not exclude correction downwards during the day. Investors are waiting for messages on the new sanctions of EU against Russia and for the coming up decisions by NATO. In particular, the European Commission has offered to ban the Russian companies from borrowing in EU and from placing debt instruments with maturity period over 30 days. The state banks and companies might be banned from accessing syndicated credits.

Main events

Consumption and output of power energy in RF for August 2014 added 1.3%.

We assume that raise of consumption within the borders of the state makes positive impact on the results of TPP more than on the results of HEPP (especially the ones that are in the II price zone) due to abnormally favorable weather conditions last year. However, drop of power energy export on the key directions might turn into serious negative for several companies (TGK-1) due to unfavorable conjuncture of prices in the states that import its power energy.