Russian stock market morning report by Veles Capital (June 26, 2009, Friday, 7.30 a.m. GMT)
The dynamics of the RTS index was contradictory. The beginning of the day was characterized by weak climbing of quotes against the background of the positive external factors, the upping oil price in particular. However, then the profit fixation was indicated mainly on the shares of Sberbank and Gazprom. The preferred shares of Sberbank, on contrary were of demand. Lower volumes were on LUKOIL, Rosneft and Norilsk Nickel. In those shares the sellers prevailed. VTB was trading more actively due to buyers’ presence. Stats on the U.S. labor market, output at 4:30 pm Moscow time, turned out to be unexpectedly weak, which enhanced the negative mood of the players.
Main news
LUKOIL wants to complete the set of refineries in Eastern Europe.
LUKOIL covered its needs in the oil processing capacities on the South and North of Europe, imparted in the interview to the Agancy on oil information the head of the company Vagit Alekperov on the threshold of the shareholders’ meeting.
Quarter report of Dalsvyaz: no crisis felt.
Sales of Dalsvyaz by IAS in 1Q 2009 totaled 4.3 bn RUR versus 3.9 bn RUR within the similar period a year earlier. The operating profit grew from 947 mn RUR to 1.2 bn RUR. The net profit of the company totaled 787 mn RUR versus 538 mn RUR in 1Q 2008. Such data is included in the report of the company.
AvtoVAZ fires all its 23 vice presidents.
AvtoVAZ fires all its 23 vice presidents, and after than it will hire 11 new ones. At the same time Renault will keep one vice president out of the current four.
Other news
- Gazprom is getting ready to cut off 30% from the investment program.
Gazprom might reduce the investment program in 2009 by 30%, stated at the briefing in Moscow the deputy chairman of the board of Gazprom, head of the financial-economic department Andrey Kruglov, imparted Interfax.
- Metalloinvest negotiated with Rosnedri the possibility of correction of the temporary features of Udokan.
According to Usmanov, there is a negotiation with Rosnedri that the company will provide for their revision the calculations of correction of the temporary features, considering the modern trends at the non-ferrous metals market. According to him, the payoff for the license will be conducted in the full volume, via the price, announced before crisis, the payments will be executed within the close coming days.
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Russian stock market daily morning report (March 12, 2010, Friday)
On Thursday the trades at the Russian share market went without any trends and the indices varied little, however still standing higher than the psychologically important level of 1,500 points of the RTS index. Mainly that was due to the relatively calm foreign background – Europe and U.S. did not show any kind of serious variations at the markets, commodity grounds were trading calmly also. News from Russia was not aggressive either and there were no trade ideas. No serious price highs or downs were indicated at the most liquid shares’ costs. Along with that we might outline the shares of Uralkaliy, which upped in price due to the statements by Igor Sechin on the matter of export duty for the potassium fertilizers not being discussed in the government yet.
Russian stock market daily morning report (March 11, 2010, Thursday)
As expected the lateral motion was indicated at the Russian share market on Wednesday. Up until the middle of the day the market was climbing basing on the good stats on the Chinese economy, in particular, on the volume of export and import in February. Given estimates showed growth of commodities import to the state, which has been supporting both the oil market and the industrial metals market. And that in its turn supported the companies within the same sectors. Later on sale prevailed at the market that might be characterized as attempts to fixate profit after the recent seven days of trades. As a result, closing of the Russian markets took place within the red zone. Among the interesting ideas of the past day we might outline the shares of Gazprom Neft, which were the drop leaders at MICEX due to the weak financial report for 2009 by US GAAP, and also the technical sale in the shares of Sberbank because of growth of its shares’ cost within the past days.
Russian stock market daily evening report (March 11, 2010, Thursday)
Calm trades almost with no idea with narrow variations of quotes took place at the market today. The oil, foreign markets, stats on the U.S. - all given factors did not provide optimism to the investors. The most interesting motion was on Uralkaliy due to statements by Sechin on the matter of export duties for fertilizers not being considered yet.
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Surgutneftegas: Currency rates are putting away the dividends..., 26 November 2009
We have revised our model of Surgutneftegas. The reason for that was the output of the 3Q 2009 report, correction of our suppositions of the company’s future development, and also the postponing of the target time and evaluation one year forward. Particularly, in our model of Surgutneftegas we have corrected the former forecast of income for the current year towards reduction: on EBIT – by 2.2%, on the net profit – by 21.5%. Mainly that happened due to the corrections on the operating estimates, and also due to the continuing strengthening of Russian ruble, which, considering significant dollar liquidity of the company, turns into negative currency exchange. Due to the negative currency exchange precisely For the second quarter in a row Surgutneftegas shows low level of the net profit. The fourth quarter, as we see it, will not make an exception and we expect negative currency exchange similar to the ones in the third quarter.
Gazprom: Having passed the bottom, 23 November 2009
We have revised our estimation of Gazprom’s shares. The reason for up-dating the company’s model was the report by IAS for 1H 2009, the budget draft for the next year and corrections of WACC method calculation. The provided financial report of the gas monopoly totally brought no surprises. As it has been expected, the second quarter was worse than the first one and likely was the weakest within the whole year. In 1H 2009 the financial estimates were affected by the decline of the gas sale at all markets by 22.3% average, and by the reduction of the retail price of gas by 9.6% in the state of the far abroad and by 24% in Russia. As a result within the six months of the year 2009 sales slipped by 24.1 bn USD or by 32.8% and formed 49.285 bn USD, operating profit and EBITDA showed reduction by 56.7% and 52.6% respectively and formed 12.98 bn USD and 16.18 bn USD.
Rostelecom: Prospects are limited again, 11 November 2009
On Monday Rostelecom summed up the results of 1H 2009 by IAS. According to the report, the sales within the half year year grew by 4.4% versus 1H 2008 and formed 32.8 bn RUR. Net profit dropped from 9.8 bn RUR to 1.5 bn RUR. OIBDA margin reduced by 7.6 p.p. to the level of 17.6%.
| | Russian News |
MMK, TMK, KamAZ, Volgatelecom news briefs, 21 December 2009
VTB releases neutral 9M 2009 IFRS results, 21 December 2009
Gazpromneft, Tatneft, MMK news brief, 17 December 2009
LUKOIL wins right to tap Iraq's largest oilfield, 16 December 2009
Evraz , Sberbank, OGK-3, Sibirtelecom news briefs, 16 December 2009
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