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Russian stock market daily morning report (September 25, 2012, Tuesday)

Contributed by Veles Capital

Against the background of the Chinese officials’ statements about having no signs of economy revival and negative news from Greece on its inability to cut its budget deficit, exchange markets resumed drop. Later extra negative was added by the data of IFO indices of Germany. As a result, the European and U.S. share markets closed in the red zone. FTSE 100 lost 0.24% and S&P 500 – 0.22%.

Main events

Results of KOm for 2013.

Results of KOM for 2013 might totally be named expected. High prices in 3JE Volga will be positive for the finance of TGK-7, however, not considering the possible M&A-deals, we still believe the shares of TGK-7 make an unattractive investing. Among the generation companies we suppose RusHydro and E.ON. Russia are worth paying attention to.