Russian stock market morning report by Veles Capital (July 1, 2009, Wednesday, 7.30 a.m. GMT)
The trades at the Russian share market began rather actively at the Russian share market on Tuesday – following the high oil prices the Russian blue chips climbed also. The most part of the day adding was won back by the market within the first trading hours, after that it varied around the level of 980-985 points of the RTS index. The main reason for that – the oil price upping – the oil quotes exceeded the level of 71 USD per barrel. Despite the fact that slight price slipping was indicated at the oil market, the Russian market held its positions strongly. The demand on behalf of the investors was indicated on a wide range of shares: the oil companies’ shares, telecommunications and metallurgy shares were climbing. Sberbank looked a bit worse than the market.
Main news
Transneft provided a report by IAS for 2008.
Net profit of Transneft for 2008 by IAS grew by 20.4% versus the similar estimate of 2007 (2.35 bn USD) and totaled 2.84 bn USD. The net profit of the company turned out to be 8.5% higher than the market expected.
Other news
- Transneft: FST upped the tariff for oil transporting by 4.4%.
The management of the Federal service on tariffs made a decision on upping the tariff for the services of Transneft on controlling the oil supplies to refineries by 7.5%, at that the average tariff for oil transporting will be 4.4% higher, imparts Interfax.
- TNK-BP Holding conducted shareholders’ meeting.
Wednesday TNK-BP Holding’s annual holders’ meeting took place, where the shareholders approved the distribution of the company’s net profit to dividends in the volume of 100% (82.7 bn RUR), the board of directors has been re-elected, and also the holders approved joining four subsidiaries, which own more than 5% of the company’s shares.
- Power energy tariffs growth in 2010 might be minimal.
Indexation of the regulated tariffs in the power energy in 2010 in RF will be minimal, stated the head of MEDT Elvira Nabiullina.
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| Latest Russian Stock Market Reports |
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 morning report (March 10, 2010, Wednesday)
After the holidays growth got suspended at the Russian share market. Domestic indices were correcting down by 1% in the first half of the day following Asia and European trading grounds, along with the drop of oil prices, which has been caused by dollar strengthening versus euro, and also the expectations of the investors on increase of oil supplies in the U.S. So, mainly the oil section was pulling the market down. Banks and power energy looked better than the market. In the second half of the day the drop suspended, and the market went laterally and continued trading within the psychological 1,500 and 1,400 points of the RTS and MICEX indices respectively. By the end of the session slight climbing following the American markets was indicated.
Russian stock market daily evening report (March 10, 2010, Wednesday)
The session at the Russian market was volatile. Till the middle of the day upping was indicated being supported by the raise at the commodity markets against the background of the positive stats from China on export and import. Later on under pressure of the domestic factors and slight overbuy in several sectors the players preferred fixating their profit and the indices returned to the levels of the beginning of the day.
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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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