Veles Capital - Daily review - Sep 30, 2009.
The second trading day of the week began positively at the Russian market. The positive external background before the trades open leaded to growth at the open, however, later on the market was gradually slipping down under the impact of oil, which was loosing in price. Note that despite the factors that make serious negative effect on the market (reducing oil prices and overheating); the market still has strength to test the annual maximums. There was no single trend in the traded shares quotes movement. We might outline the shares of motor-car constructors, which lost in price significantly. Evidently the reason for that might have been the statement by the minister of finance Alexei Kudrin on the state possibly upping its share if the problem companies within the sector. Considering the fact that almost all companies experience difficulties, the prospect of nationalization will unlikely make the investors happy.
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TNK-BP is modernizing its oil processing with the aim to future market requirements.
TNK-BP in 2010-2011 will build a amyl hydride-heroic heavy ends isomerization unit at Saratov refinery with the cost of 4.2 bn RUR, imparts the message of public relations department of TNK-BP Povolzhye.
- Vorkutaugol plans to enter the loss-free level in 1Q 2010.
Vorkutaugol, included in Severstal-resource, plans in 1Q 2010 to enter the loss-free level. The anti-crisis measures already taken by the management of the company allowed Vorkutaugol to reduce expenses by 13% in 1H 2009, despite the inflation processes.
The RTS index grew by 0.95% within Tuesday and totaled 1,260.56 points. The indicator managed to climb mainly on behalf of the notes of Surgutneftegas (+3.88%), LUKOIL (+1.86%) and Tatneft (+3.75%). The negative came from the shares of Rosneft (-1.05%), Uralsvyazinform (-0.85%) and Open investments (-1.43%). The turnover volume at the RTS exchange market formed 264 mn USD. The leaders on the turnover volumes were the following: the shares of Sberbank (121 mn USD), Gazprom (89 mn USD) and LUKOIL (21 mn USD). At the foreign grounds - exchange and commodity - nothing radically new happened. So, the most likely further movement of the Russian market will be lateral or falling.
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|Publication:||Russian Banks and Brokers Reports|
|Date:||Sep 30, 2009|
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