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Russian stock market evening report by Veles Capital (July 2, 2009, Thursday, 4.00 p.m. GMT)

Stocks
 
Market today.  The market was dropping following the oil prices lowering and weak data on economy of U.S. and Euro zone. Sale was indicated on the whole range of shares, though they were not high due to summer calmness.

Market tomorrow. Fundamental factors, likely, provide for quotes drop. On the other hand, the market reached the technically strong level by 960 points of the RTS index, which might be a strong support level.
 

Bonds
                                                           
Market today.  On Thursday the ruble bonds market got a bit livelier. The buyers went mainly on the first echelon. Particularly the notes of RZD (12-16 issues), 58th issue of Moscow grew in price. Also HydroWGC and Promsvyazbank were interesting. At the Eurobond market the activity was on contrary gone. We might outline the demand growth for the new issues of Gazprom (at the forward market). Despite the remaining buyers demand in the first echelon, no actual deals were made – the counter-agents were in the mood for celebrations.

Market tomorrow. Due to the day-off in the U.S. the activity at the Russian grounds will not be high. Especially that relates the Eurobond market. Totally the situation is rather stable.
 

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Economy turn-down continues in the Euro zone, but its rates will slow down. (Interfax, as quoted by Trishe)
International reserves of RF as of June 26 grew to 410.5 bn USD. (CB)
Profit of RF consolidated budget of RF in January-April reduced to 15.6 bn RUR, output of products and service on base types of activities in RF dropped in May by 15.7% (FSSS)
Oil export from RF to far abroad in 1H 2009 grew by 3.2%. (Interfax)
Net profit of WGC-1 by IAS grew to 2.03 bn RUR. (company)
AvtoVAZ plans net loss by IAS in 1H 2009 at the level of 10 bn RUR. (Interfax)
Uralkaliy negotiated potassium prices upping with the consumers in 3Q 2009 by 20%. (Interfax)
Net loss of Pharmacy Chain 36.6 reduced in 1Q 2009 to 320.3 mn RUR. (Interfax)