The Russian market: buyers considerably became more active
On Monday, on October, 20th, the auctions in the Russian stock market have opened gepom upwards, a little improved external and internal news background became the reason for that. Following the results of Friday session the American share indexes have decreased: the adverse data about mood of consumers and the habitation market has put pressure upon stock exchanges. Nevertheless on Monday since morning futures for the American indexes showed quite good growth. The Asian stock exchanges also mainly raised on October, 20th. Industrial metals following the results of trading session on Friday basically have risen in price. Oil too has started to be corrected towards increase - as of 11:30 Moscow time quotations of stamp Brent changed about a mark 70,8 dollars/ barr. Thus, with the account concerning a favorable external conjuncture and expectation of the money promised by the Russian authorities in the market buyers became more active. As a result by 12:30 Moscow time the Moscow Interbank Stock Exchange index has grown on 4,69 % and has made 627,78 points, and the classical index of RTS has added 6,85 % and there were on a mark 713,33 points. Volumes of the auctions by specified time have made: on FB the Moscow Interbank Stock Exchange - 6,02 mlrd rbl., in RTS - 1,79 million dollars
on October, 20th the Central Bank has spent the first auction on distribution between banks of poor credits for a total sum 700 mlrd rbl. Bank of Russia has placed at auction 387,7 mlrd rbl. As they say in the Moscow Interbank Stock Exchange message, the cutting off rate has been established at a rate of 8,5 %. Credits for a period of five weeks were given to the banks meeting requirements of the Central Bank. Besides, as it has been declared, the Fund of national welfare should allocate 175 mlrd rbl. for purchase of securities. According to the experts, the given measures can support the share market, however only in short term. The majority of experts expects that on Monday in first half of day in domestic stock market buyers will prevail. we expect positive opening of the share market in Russia on Monday. Primary growth actions with a high share of state participation will show, oil actions and one - two representatives of a bank segment. Further the conjuncture will be defined by moods of the European stock exchanges, dynamics of the prices for oil and the market of futures of the USA. Activity will be saved on a low level - the senior analyst " predicts; Alpha bank Angelika Genkel. Thus the part of experts does not exclude that in second half of session of enthusiasm at buyers will be reduced, however falling of indexes on Monday experts do not expect. From important events of day it is necessary to note the publication of an index of advancing indicators to the USA and Ben Bernanke`s performance (18:00 Moscow time).
the Favourite of the market while the power sector looks: FSK EUROPEAN ECONOMIC COMMUNITY by 12:30 Moscow time has grown on 2,6 %, Inter the Russian Open Society United Power Systems - on 10,29 %, RusGidro - on 1,86 %. Very quite good demand is observed in actions OGK.
As it became known, on October, 24th in Vienna the OPEC emergency meeting where, predictably, the cartel will make the decision on decrease in volume of oil recovery will take place. The given factor has given some support to oil quotations which have started to be corrected towards increase. It in turn was favorably reflected in actions of the Russian oil and gas companies. So, Surgutneftegaz by 12:30 Moscow time has grown on 6,98 %, Gazprom oil - on 4,79 %, LUKOIL - on 9,69 %, exclusive papers Transneft - on 0,58 %, Rosneft - on 4,82 %, Tatneft - on 3,1 %, Gazprom - On 5,47 %, NOVATEK - on 1,89 %.
Norilsk nickel has informed that its affiliated company Norilsk Nickel Australia stops manufacture and carries out enterprise Cawse preservation for uncertain time. As analysts of the company " mark; Aton the decision on a manufacture stop at enterprise Cawse was accepted from - for a considerable rise in prices on used for processing of ore raw materials and materials (already long time Ñawse carried out activity in the conditions of accruing industrial costs) and sharp falling of the price for nickel. Norilsk nickel will consider also sale Cawse as one of management variants the given project. The decision to stop manufacture at enterprise Cawse will not affect other objects GMK Norilsk nickel In Australia, namely Black Swan, Lake Johnston and Waterloo which continue the work according to expectations. stop Ñawse will reduce industrial indicators Norilsk nickel in IV quarter 2008ã., nevertheless we consider that the given decision quite obosnovanno. Now the prices in the nickel world market are subject to considerable influence from professional investors who actively continue to deduce means from raw actives. As a result of the price for nickel continue to decrease and already closely come nearer to average on branches of the cost price of manufacture of nickel, therefore the increasing number of the nickel enterprises becomes unprofitable. We expect that in intermediate term prospect the given tendency will be saved - experts have concluded. Actions GMK by 12:30 Moscow time have added in cost of 6,65 %. Nevertheless as a whole the metallurgical sector while looks slightly weaker than the market from - for sales in papers Severstal (- 6,47 %). On Monday since morning it became known that NLMK refuses acquisition American còàëåïðîèçâîäèòåëÿ John Maneely Co (JMC) for 3,53 mlrd dollars, the agreement on which purchase has been reached in August 2008ã. Management NLMK is ready to consider acquisition JMC, but only in case of revision of the price towards fall. Present owner JMC does not agree with refusal NLMK and intends to force to close it the transaction through court. However, experts consider the requirement to reconsider the price quite proved. Actions NLMK to the middle of day on Monday have grown on 0,61 %, MMK - on 0,74 %.
on October, 20th the Savings Bank should publish financial results for II quarter on MSFO. It is expected that the bank net profit will increase by 33 % in relation to the similar period of last year. The expected reporting of the Savings Bank together with the undertaken authorities actions on stabilisation of a situation with liquidity, obviously, supports to actions of bank sector. Ordinary papers of the Savings Bank by 12:30 Moscow time have risen in price for 2,52 %, exclusive - on 3,36 %, VTB - on 5,18 %.
Rostelecom by 12:30 Moscow time has grown on 2,6 %, Uralsvyazinform - on 4,17 %, MTS - on 6,19 %.
Many experts believe that within the next few days the Russian stock market can quicken a little thanks to actions of the authorities. within the next few days it is possible to hope for some restoration of our stock market - analysts of YOKES " mark; Veldega . In - the first, domestic blue counters should react to inflow of the state money resources. Experts expect that large purchases will proceed in actions Gazprom Rosneft and the Savings Bank. On these papers of analytics would make the basic rate, forming a speculative portfolio. In - the second, current week the prices for oil in expectation of an OPEC extraordinary session can rise and be fixed above psychologically important mark 70 dollars/ barr. It not only will calm stockbrokers - admirers of the oil and gas companies, but also will lower fears concerning proficiency of the Russian budget. In - the third, the European exchange indexes began to revive, and on the American share platforms has considerably increased volatilnost, experts summarised. Nevertheless to speak about a market turn for the present very much and very prematurely.