Printer Friendly

Veles Capital - Daily review -Jun 24, 2013.

Trader's view

The Russian market likely opens negatively due to impact of some factors: negative beginning of the day at Asian grounds and drop of the American futures, together with resumed alarms on the necessity of additional writing-off for Greece.

(To view the full report please click here:

http://reports.aiidatapro.com/brokers/VelesEN/130624eng.pdf)

Main events

AFK Systema sold its share in Russneft.

Selling Rosneft is relatively unexpected, considering earlier announced plans on merger of oil assets of Systema. The deal

provides for relatively serious changes of strategy of Systema and Bashneft, which in short-term prospect might pressure the quotes of Bashneft.

The state intends to resume the program of easy-term loans

We assume that such a significant volume of subsiding might break downtrend sale of vehicles in Russia.

In 2015 AFK Systema plans conducting IPO of Detskiy Mir retail network

We are positive about the possibility of Detskiy Mir entering the international grounds and we believe that in case the

retailer continues showing good operation and financial results, than by the time the company goes for IPO, the shares

of Detskiy Mir will be in demand.

Future of Quadra will be decided until the end of July

Eurosibenergo is the new aspirant to buying Quadra. Management of the generation will make its final decision until

the end of July. We estimate the given news as a positive one relating the quotes of Quadra.

Trader's view

The Russian market likely opens negatively due to impact of some factors: negative beginning of the day at Asian grounds and drop of the American futures, together with resumed alarms on the necessity of additional writing-off for Greece.

Trade results (table)

****

Copyright: VelesCapital,All rights reserved.

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
COPYRIGHT 2013 AII Data Processing Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2013 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Russian Banks and Brokers Reports
Geographic Code:4EXRU
Date:Jun 24, 2013
Words:319
Previous Article:UFS Investment Company - Daily review of the debt markets, Jun 24, 2013.
Next Article:Veles Capital - Daily bonds review, Foreign market - Jun 24, 2013.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters