Russian stock market daily evening report (September 01, 2010, Wednesday)
Weak growth goes on at the market versus relatively calm foreign background. AvtoVAZ still is the favorite note showing quotes growth acceleration without any visible reason. The telecommunication companies are drop leaders, headed by Sibirtelecom, where the shreholders register was closed yesterday.
Considering therapid beginning of Fall at american grounds, the russian investors might likely continue play upwards also.
Russian stock market daily evening report (August 31, 2010, Tuesday)
Once again slight drop took place at the market following the impact of fall at the U.S. and Asian markets. Support still comes on behalf of the climbing oil prices. The shares of Rostelecom were climbing due to old news on dividends. Also demand remained in other telecommunication companies' shares. We do not exclude a neutral open of the market with possibilitty of further climbing following the oil quotes.
Russian stock market daily morning report (August 31, 2010, Tuesday)
The trading week began actively at the Russian share market. The foreign background was favorable to the shares, oil was climbing, which leaded to the good open. Among all the shares being traded we should outline the preferred shares of Rostelecom, which added a bit less than 10% due to information on possible change of dividend policy relating the preferred shares. Along with that, the shares of IRC Svyazinvest were climbing also. We should outline the shares of AvtoVAZ - on Monday the had of government Vladimir Putin announced continuation of import duties for cars raise, which definitely is positive for the car-maker and leaded to its quotes growth.
Russian stock market daily evening report (August 30, 2010, Monday)
Raise at the market was totally indicated during the whole day due to positive foreign background. Shares of AvtoVAZ (due to news on export duties) and preferred shares of Rostelecom (due to news on dividend policy) were the market's favorites. Also shares of IRC of Svyazinvest were collected. Less activity was in the other shares of the market.
Russian stock market daily morning report (August 30, 2010, Monday)
On Friday the trades at the Russian share market began relatively weakly - the market slipped insignificantly due to impact of the U.S. trades results. However the oil prices that upped overnight kept the market from a more serious drop. The actual anxiety began after the information output on revision of the U.S. GDP forecast for 2Q 2010 - the fact turned out to be better than expected, which leaded to price growth at the markets. The preferred share of Rostelecom added most significantly among the Russian notes - the investors still are inspired by the coming dividends on given shares. Also the price adding was indicated on the metallurgy companies' shares. On contrary, demand got weaker in the shares of AvtoVAZ and Kamaz, which leaded to slipping of quotes.
Russian stock market daily evening report (August 27, 2010, Friday)
As we expected, the market climbed slightly up, the open was weak though. The main growth was indicated after output of data on revision of the U.S. GDP revision. Buying was on in the preferred shares of Rostelecom, other IRC, and also metallurgy companies (MMC and NLMC). Demand faded in AvtoVAZ and Kamaz, which caused slipping of their quotes.
Russian stock market daily morning report (August 27, 2010, Friday)
On Thursday the Russian share market managed to close the day of fall with slight adding. The quotes upping was provided by the positive foreign factors. In particular the oil price growth, and good stats on the primal claims for unemployment in the U.S. Besides, the Russian market is significantly oversold and we should not be excluding the start of the new growth phase. The shares of telecoms were the market's favorites: a press-conference was conducted by the head of Svyazinvest Evgeniy Yurchenko, were the plans on provisional dividends of IRC and Rostelecom for 9 months of 2010 have been announced, along with dividends of the united company, which might have supported interest to the notes of given sector. Sale was still on the notes of CTPZ
Russian stock market daily evening report (August 26, 2010, Thursday)
The share market moved laterally within the range of 1,344-1,355 points of MICEX index during the day after morning bounce up. During the day the market was supported by positive data on the U.S. labor market, and dynamics of the European indices and American futures. By the results of trades all the liquid shares closed with upping. Growth leaders were the preferred shares of Sberbank (+2.53%), VTB (+2.48%) against ruble strengthing versus bi-currency basket.
Russian stock market daily morning report (August 26, 2010, Thursday)
On Wednesday pessimistic mood was indicated at the Russian market. Mainly that was due to the negative foreign background. In particular, the authorities of China are trying to "blow off the bubble" at the real estate market, but the stats that comes from the U.S. gets worse and worse, and expectations on recovery are not inspiring, and oil is falling. Under given conditions, the Russian market is moving downwards. Along with that shares that added in price might also be found among the dropping shares - that would be the shares of AvtoVAZ and KAMAZ, which are adding with high rates within the past two weeks. Shares of CTPZ seemed worse than the market. Note on Thursday information on the board of directors having made a decision on additional share emission.
Russian stock market daily evening report (August 25, 2010, Wednesday)
Pessimism still reigns the market being caused by the reduction of oil prices, and also the continuing raise of alarms on recovery of economy of the U.S. Rapid growth, despite everything, still goes on in the notes of KAMAZ and AvtoVAZ. Despite, Sale was on CTPZ, after the messages on the additional emission of shares being adopted by the board of directors.
Russian stock market daily morning report (August 24, 2010, Tuesday)
The new trading week began rather modestly at the Russian share market. No important corporate news were indicated, no significant stats on Europe or U.S. have been output, so the Russian market referred to oil only. That resulted in the change by the end of the day being insignificant. Nevertheless, shares of car-manufacturing companies are worth being outlined in given passive environment - AvtoVAZ and KAMAZ, which were adding in price for another day in a row.
Russian stock market daily evening report (August 23, 2010, Monday)
Today was another lightly activy day. Mostly the quotes dynamics depends on the external background which was slightly positive today. Blue chips mainly added insignificantly. Increased demand still remined in the shares of car-manufacturing companies' shares (AvtoVAZ and KamAZ).
Russian stock market daily morning report (August 23, 2010, Monday)
Reduction continued at the Russian share market on Friday. Weak stats on primal claims on unemployment in U.S. output yesterday were among the reasons for given reduction. The mentioned and some other factors coved the optimism on soon recovery of the global economy and so it leads to the reaction of quotes. We should outline the shares of telecommunication, power energy and machinery sector that looked better than the market among the Russian notes. Totally the fundamental factors for the given sectors are positive. In case of telecommunication shares support comes from expectations of the preliminary dividends and also reorganization of Svyazinvest. Power energy might be climbing mechanically after the hot weather and increased power consumption. As for the car-manufacturers the positive comes from the vehicle utilization program.
Russian stock market daily evening report (August 20, 2010, Friday)
Profit fixation continued at the market under influence of alarms on global economy recovery prospects. Demand was indicated on several shares of telecommunication sector (dividends, reorganization), power energy (growth of power consumption due to hot weather) and machinery (utilization of old vehicles). Sale was on metallurgy companies (MMC and NLMC).
Russian stock market daily morning report (August 20, 2010, Friday)
On Thursday the day opened at the Russian share market with growth following the positive close of the American and Asian grounds overnight, and kept going till the middle of the day, when the negative data on claims for unemployment in the U.S. have been output. Stats turned out to be much worse than expected, besides, the number of claims has reached the psychologically important level of 500 thousand for the first time since November last year. Given news turned the markets around and by the end of trades MICEX lost 0.84% having lowered to 1,375 points and the RTS index lost 0.02% and totaled 1,446 points.
Russian stock market daily morning report (August 19, 2010, Thursday)
On Wednesday MICEX and RTS indices closed in the red zone having lost 0.34% and 0.42% respectively. The highest volume of deals was indicated in the shares of Sberbank and Gazprom, which lost 0.77% and 0.93% respectively. Shares of Raspadskaya added 2.99% due to the news on introduction into operation of the damaged mine. However totally the negative mood prevailed at the market.
Russian stock market daily morning report (August 18, 2010, Wednesday)
On Tuesday the participants of the Russian share market preferred to play upwards. Good stats on the economies of the European Union state, good data on the industrial production in the U.S. in 2Q 2010, together with the climbing oil prices - all that provides for growth in Russia. Among the most liquid shares we might outline demand that appeared once again in the shares of the metallurgy companies (MMC, NLMC and Severstal) and the related branches (Belon and Raspadskaya). Note that globally the given shares as we see them do not seem to be prospective primarily because of the measures taken by the Chinese authorities in order to smooth the economy growth.
Russian stock market daily evening report (August 17, 2010, Tuesday)
The market participants were set for climbing today. Good stats on the European Union and the U.S., along with oil prices growth leaded to upping in Russia. The most demand was for the shares of the metallurgy workers (Severstal, NLMC and MMC)
Russian stock market daily morning report (August 17, 2010, Tuesday)
The first trading day of the week at the russian share market ended neutrally, though during the day the market varied significantly due to the output of macroeconomic stats. Oil-and-gas sector looked slightly worse than the market, which was no surprise - global price of "black gold" went lower the level of 75 USD per barrel of Brent mix oil. Demand remains in the notes of steel smelters against the background of favorable conjuncture of the global steel prices.
Russian stock market daily evening report (August 16, 2010, Monday)
All day the markets were in the red zone, profit fixation continued due to the contradictory macroeconomic data. The most interesting trades were on Mosenergosbit, which showed climbing due to messages on high dividends. Raspadskaya was still winning back news on soon resuming of mining. The most slip at MICEX was on telecommunication and machinery companies.
Russian stock market daily morning report (August 16, 2010, Monday)
The last trading day of the week at the Russian share market was full of various events. Besides, France, Germany and the whole European Union announced data on 2Q 2010 GDP, which turned out to be a little (and in case of Germany – a lot better) than expected.
Russian stock market daily evening report (August 12, 2010, Thursday)
Downward motion continues, though as expected, the reduction rates are slowing down. As for the negative, we might mention the usual dropping oil prices and weak stats on unemployment in the U.S. Basically the shares of power energy sector were falling. Strong demand was in the notes of Raspadskaya.
Russian stock market daily morning report (August 12, 2010, Thursday)
Local correction goes on at the Russian share market. Weak external background at the trades open, the oil price reduction during the day, disappointing stats on the U.S. foreign trade – all the given factors leaded to slipping of the Russian shares. Naturally all the representatives of the oil-and-gas sector were losing in price same as banks (against the background of ruble weakening versus dollar due to oil price reduction). Among the dropping market the shares of Raspadskaya are remarkable – on Wednesday chairman of the government Vladimir Putin made another sensational statement on the mine and its soon recovery, which also did reflect positively on its quotes.
Russian stock market daily evening report (August 11, 2010, Wednesday)
Correction down at the Russian market goes on full ahead. Against the background of the oil loosing in price and the disappointing stats on the foreign trade in the U.S., the Russian market dropped by more than 1%. Against the given background growth is indicated on the shares of Raspadskaya – against the background of the statements by Putin on the soon recovery of the mine.
Russian stock market daily evening report (August 10, 2010, Tuesday)
Serious correction, caused by oil prices slipping and weak stats on the macroeconomy of the U.S., took place at the market. The most significant sale was indicated in the shares of Gazprom Neft, Surgutneftegas, Sberbank and Transneft.
Russian stock market daily morning report (August 10, 2010, Tuesday)
Activity of the market participants is still staying not at a high level: summer, heat and smoke over Moscow do their thing. The market went slightly up in the morning and corrected down in the afternoon under the impact of news from the oil market. We should outline the shares of Norilsk Nickel among the liquids. Shares of the producer might have upped after the chairman of the board Alexander Voloshin having signed the protocol of the annual shareholders meeting. This means that all obstacles on the company paying off dividends by the results of 2008 have been suspended. Besides, the demand for power energy companies’ shares was indicated.
Russian stock market daily evening report (August 09, 2010, Monday)
The trades still are little active. The market climbed a little in the morning, corrected in the afternoon. Among the liquids we might outline Norilsk Nickel with the news on Voloshin (chairman of the company’s board) having signed the protocol o the shareholders’ session: now there is no obstacle to payoff dividends by the results of 2009. Some demand was indicated in several power energy companies.
Russian stock market daily morning report (August 09, 2010, Monday)
Last Friday the trades at the Russian market differed from the previous days insignificantly. Things still are calm and quiet at the market, and the reaction to external factors is moderate. As a reason we might outline the summer vacation period, multiplied by vacations, which might have been taken by the investors due to the ecological situation in Moscow. Still the representatives of the power energy sector (TGK-5, -6, -9, -13, -14). For another day in a row sale is on the preferred shares of Transneft.
Russian stock market daily morning report (August 05, 2010, Thursday)
On Wednesday the trading session at the Russian share market did not differ much with any type of events. The market began trades with weak reduction due to the foreign background, after which it gradually went positive. Totally there still are no driving factors – neither stats, nor ideas. Reaction to the output accounting reports by the Russian companies also is moderate. A bit more significant volatility was indicated on the steel-smelting sector and related sectors’ representatives. Possibly that was due to some activation of the steel prices.
Russian stock market daily evening report (August 04, 2010, Wednesday)
Rather calm trades were indicated against the calm foreign background. Significant adding was on the representatives of the metallurgy sector (the most significant upping was on Severstal) following growth of steel. Also the automobile producers looked relatively good (Sollers was among the leaders).
Russian stock market daily morning report (August 04, 2010, Wednesday)
On Tuesday the trades at the Russian share market were unexpressive. Volatility was not high, same as turnover volumes. Some negative was added by the output of the stats on macroeconomy of the U.S. closer to the trades end at the Russian market – data turned out to be worse than expected, which leaded to the reduction at the market. Serious loss was on the shares of Norilsk Nickel and Polyus Gold. Both shares were losing in price against the background of the shareholders conflicts. Also the prices dropped on the preferred shares of Transneft, which were among the growth leaders.
Russian stock market daily evening report (August 03, 2010, Tuesday)
Idle variation within a narrow range was indicated at the market. Weak negative was provided by the output data on the U.S. stats. Sale was indicated on Norilsk Nickel against the background of conflict of the shareholders. Also oil sector was losing in price, though the main factor for the sector – oil price growth – was favorable.
Russian stock market daily morning report (August 03, 2010, Tuesday)
On Monday serious climbing was indicated at the Russian share market – the RTS index broke through the level of 1,500 points, having met almost no resistance at given level. Among the growth reasons were the following: extremely favorable background in the form of good stats on the EU economy, oil quotes having broken through the level of 80 USD per barrel (on the Brent mix). Among the Russian shares growth was indicated on almost all sectors, with the exception of the telecommunication sector representatives.
Russian stock market daily evening report (August 02, 2010, Monday)
MICEX index grew by 2.22%, and the RTS index – by 2.86%. The RTS has successfully overcome the level of 1,500 points. The oil prices overcame the level of 80 USD for the first time in May, and the index MSCI World reached the 11-week high due to good news on the profit and construction expenses growth in the U.S.
Russian stock market daily evening report (July 30, 2010, Friday)
Investors preferred selling shares. The foreign background before the beginning of trades seemed to be negative. Besides, considering the local overheating of the market, the correction was not so bad. The shares of Transneft still are being purchased.
Russian stock market daily morning report (July 30, 2010, Friday)
Despite all expectations the Russian share market showed rapid climbing on Thursday. Good stats on unemployment in Germany and the U.S., along with the report by ExxonMobil higher than expected were the principal reasons for the raise at the market. The most significant growth was indicated on the preferred shares oTransneft. Note that positive background is indicated on the given company. In particularly that would be the statement on privatizing of a share of the company, output of good quarter results, and FST having approved the raise of tariffs for the services by Transneft.
Russian stock market daily evening report (July 29, 2010, Thursday)
Against the background of good stats on unemployment in Germany and U.S. the russian market grew rapidly. Great demand was for the notes of Transneft due to news on the report and increase of tariffs. The remaining oil sector grew not badly too. The negative close was on the power energy sector.
Russian stock market daily morning report (July 29, 2010, Thursday)
Wednesday did not bring any activity to the trades on the Russian shares. The markets were calm with passive reaction to the internal and external impacts in form of stats on Europe and the U.S. Resulting from that the Russian grounds closed with slight changes of the principal exchange indicators. The most significant variations were on the shares of LUKOIL. In particular information on the company buying back its shares from one of its largest holders - American Conoco - came out on Wednesday and leaded to adding of the Russian oil company's quotes. Note that the other representatives of the oil-and-gas sector slipped by 1-2%.
Russian stock market daily evening report (July 28, 2010, Wednesday)
Today was another calm day at the market. Calm inside and outside Russia. Quotes were idly moving following the main indicators with no significant volumes. LUKOIL was looking good – the notes added 3% due to news on the buyback of its shares from American Conoco.
Russian stock market daily morning report (July 28, 2010, Wednesday)
On Tuesday the trading session once again was calm at the Russian share market. No important stats on the European Union and the U.S. came out, which provided for the low volatile trades at given regions' markets. So, there were no indicators for the Russian grounds to follow. We should point out the shares of Rostelecom among the liquids due to they went 6% up, along with some representatives of the metallurgy sector (Severstal and MMC). On contrary, reduction was indicated on the shares of Mechel, which were the favorites recently.
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Russian stock market daily evening report (September 01, 2010, Wednesday)
Weak growth goes on at the market versus relatively calm foreign background. AvtoVAZ still is the favorite note showing quotes growth acceleration without any visible reason. The telecommunication companies are drop leaders, headed by Sibirtelecom, where the shreholders register was closed yesterday.
Considering therapid beginning of Fall at american grounds, the russian investors might likely continue play upwards also.
Russian stock market daily morning report (August 31, 2010, Tuesday)
The trading week began actively at the Russian share market. The foreign background was favorable to the shares, oil was climbing, which leaded to the good open. Among all the shares being traded we should outline the preferred shares of Rostelecom, which added a bit less than 10% due to information on possible change of dividend policy relating the preferred shares. Along with that, the shares of IRC Svyazinvest were climbing also. We should outline the shares of AvtoVAZ - on Monday the had of government Vladimir Putin announced continuation of import duties for cars raise, which definitely is positive for the car-maker and leaded to its quotes growth.
Russian stock market daily evening report (August 31, 2010, Tuesday)
Once again slight drop took place at the market following the impact of fall at the U.S. and Asian markets. Support still comes on behalf of the climbing oil prices. The shares of Rostelecom were climbing due to old news on dividends. Also demand remained in other telecommunication companies' shares. We do not exclude a neutral open of the market with possibilitty of further climbing following the oil quotes.
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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%.
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