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Veles Capital - Daily review - Mar 13, 2013.

Trader's view

Probably activity of today's trade will also be held back by the expectations of the EU summit results. Slight correction of the American futures and oil provide for a negative open of the Russia stock exchange. As for macrostats, data on the industrial production in EU in January and retail sale in the U.S. in February are worth paying attention to.

(To view the full report please click here:

http://reports.aiidatapro.com/brokers/VelesEN/130313eng.pdf)

Main events

RAS net profit of Uralkaliy in 2012 grew 15% to 49.079 bn RUR.

Data according to RAS generally confirms market's expectations relating the results by IAS.

Shares of Polyus Gold Int. Will be included into FTSE Global Equity and FTSE All World Equity.

We assume the given message is neutral to the cost of shares of Polyus Gold Int. We keep our recommendation aHOLDa with target of 3.40 USD per share.

Trader's view

Expectations of the EU summit that is scheduled March 14-15 hold back the activity at exchange grounds. Yesterday the

reduction of the oil price below the psychologically important level of 110 USD per barrel and the negative stats on industrial production in the UK formed a sufficient ground for slight correction of the Russian market.

Probably activity of today's trade will also be held back by the expectations of the EU summit results. Slight correction of the American futures and oil provide for a negative open of the Russia stock exchange. As for macrostats, data on the industrial production in EU in January and retail sale in the U.S. in February are worth paying attention to.

Trade results (table)

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For further information please contact: VelesCapital, Russia, Moscow,

123610, Krasnopresnenskaya nab. 12, Entr. 7, floor 18

Tel.: 7 (495) 258 1988, Fax: 7 (495) 258 1989,

e-mail: research@veles-capital.ru, web: http://www.veles-capital.ru
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Publication:Russian Banks and Brokers Reports
Geographic Code:4EXRU
Date:Mar 14, 2013
Words:317
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