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Russian stock market evening report by Veles Capital (June 19, 2009, Friday, 4.00 p.m. GMT)

Stocks
 
Market today.  The market is gradually recovering after the emotional sale on Wednesday-Thursday. After that, the oil prices climbed slightly, which increased the attractiveness of the Russian notes. The market was mainly pulled by the oil chips, which climbed following after a serious correction earlier.

Market tomorrow. There are no serious ideas and the market will be managed by commodity markets. If looking at the technical factors, than upping is possible on Monday.
 

Bonds
                                                           
Market today.  On Friday the market recovered slightly after several days of selling – the quotes of the note within the first echelon added average 10-15 b.p. The activity was indicated in the issues of Moscow and Moscow region, and also VTB-5 and a number of loans of RZD. However, at the background of Minsk forum Cbonds, the activity at the debt market was minimal. All that equally relates to the Eurobond market.

Market tomorrow.  On Monday the sale at the market of ruble notes might increase, including at the background of oil price reduction and ruble rate growth. The focus will be on the new issues, which have the premium to the secondary, particularly – X5 loan.
 

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The retail trade turnover in RF in May reduced by all-time high 5.6%. (Rosstat)
Drop of investments to the principal capital in RF in May accelerated by all-time high 23.1%. (Rosstat)
The number of unemployed in RF in May reduced for the first time in a year by 0.2 mn to 7.5 mn people. (Rosstat)
Extraction of Rosneft in 2009 will grow by 2% to 112.3 mn tons. (Interfax)
Rosneft plans to invest in Yurubcheno-Tohomskoe deposit 25 bn RUR in 2010. (Interfax)
LUKOIL purchases 45% of refinery in Netherlands from Total for 725 mn USD. (Interfax)
Irkutskenergo upped the net profit by IAS in 2008 by 2.4 times to 5.5 bn RUR. (Interfax)
WGC-4 upped the net profit by IAS in 2008 by almost 4 times. (Interfax)
Marshals put up for sale the shares of Vimpelcom, which belonged to Telenor. (Interfax)