The Russian market: the External background pulls indexes downwards
On Friday, on August, 8th, the auctions in the Russian share market have opened falling of the prices on the majority of liquid papers, moderately negative external news background became the reason for that. Following the results of the yesterday`s auctions the American share indexes have decreased under the pressure of the weak statistics under demands for the unemployment benefit, the reporting of the largest world insurer AIG which has strongly disappointed investors, and forecasts of the largest retail player Wal - Mart Stores have not added optimism to players.
however the Asian stock exchanges have not divided pessimism of the American colleagues and today since morning showed raznonapravlennoe movement. Futures for the American indexes today since morning grew up within the limits of a technical rebound. Industrial metals have finished yesterday`s session smeshanno, however it is necessary to notice that nickel has added 5,75 %. Oil during the yesterday`s auctions has managed to grow, however today since morning of the quotation “ oil “ again decrease - at 11:40 Moscow time oil of mark Brent changed about a mark 116,56 dollars/ barr. Besides, the begun operations in South Ossetia also could have additional negative influence on the Russian share market. Thus, the external conjuncture together with internal factors today since morning had no to purchases, and the initiative again have intercepted “ bears “.
As a result by 12:30 Moscow time the Moscow Interbank Stock Exchange index has decreased on 1,01 % and has made 1420,41 points, and the classical index of RTS has lost 2,22 %, having made 1801,69 points. Volumes of the auctions by specified time have made: on FB the Moscow Interbank Stock Exchange 17,2 mlrd rbl., in RTS of 16,2 million dollars
As are marked by experts, the situation in the Russian share market continues to remain difficult. According to the senior analyst IK “ AntantaPioglobal “ Andrey Verholantseva, the stock market of the Russian Federation will move during the day in a negative zone. “ on Friday at the auctions sales as the external background has no to purchases, as a rule, prevail. To give the forecast for intermediate term prospect now it is represented inconvenient as the market remains very much volatilnym. The Russian actions remain very cheap, on the other hand, uncertainty remains “ - the expert underlines. From the important statistics today it is necessary to allocate the publication of the data from the USA on expenses for labour and labour productivity (16:30 Moscow time), on wholesale stocks (18:00 Moscow time), besides, such large companies, as Fannie Mae and MBIA today should report. As a whole, if the statistics appears weak, and reports will disappoint investors, falling in stock markets can amplify, including on the Russian.
yesterday “ RusAl “ Has extended two official statements of which has again accused “ Interros “ in the wrong policy of management GMK and absence of interest in development “ Norilsk nickel “. Besides, “ RusAl “ has informed that all three representatives of the company entering into board of directors GMK, will vote against change of the general director “ Norilsk nickel “ (to which post Vladimir Strzhalkovsky) as frequent change of a management contradicts corporate governance practice has been invited. “ RusAl “ also has declared that will demand convocation of extraordinary meeting of shareholders for re-election of board of directors GMK. Besides, “ RusAl “ has noticed that is necessary to inspect structure of shareholders “ Norilsk nickel “ as it has a suspicion that “ Interros “ Already consolidated more than 30 % of actions, but thus has not exposed the obligatory offer. In the meantime Potanin has started to deduce share holdings “ Norilsk nickel “ and “ the Gold Pole “ in an offshore - yesterday it became known that Applecourt Yoldings limited has got at “ Incorporated investments “ 7,396 % of actions “ the Gold Pole “ and Montebella Holdings Ltd has got 7,396 % of actions GMK at “ Incorporated investments “ analysts of the company " have noted; Aton “. “ session of board of directors GMK on which questions of re-election of the general director of the company, convocation of extraordinary meeting of shareholders GMK and the questions connected with competition on the Udokansky deposit will be discussed Today will take place. The sated and inconsistent news background will promote raised volatilnosti actions “ Norilsk nickel “ and “ the Gold Pole “ - experts consider. Papers “ Nornikelja “ by 12:30 Moscow time have fallen in price on 2,47 %, “ the Gold Pole “ on 1,36 %. Sales are observed as well in actions “ Severstal “ (- 1,37 %), MMK (- 2,56 %) and NLMK (- 1,19 %).
the Rise in prices for oil as experts consider, has been caused by reduction of its deliveries from Azerbaijan in connection with a stop of work of the oil pipeline of Baku - Tbilisi - Dzhejhan (BTD) from - for explosion on its Turkish site. However essential strengthening of dollar against euro has not allowed some oil to grow strongly. Moreover, today since morning of the quotation “ oil “ again have left in negative area that has negatively affected papers of the Russian oil and gas companies. So, LUKOIL by 12:30 Moscow time has lost in cost of 0,75 %, “ Surgutneftegaz “ 1,01 %, “ Gazprom oil “ 1,21 %, exclusive papers “ Transneft “ - 0,53 %, “ Rosneft “ 0,94 %. Actions “ Gazprom “ by specified time have decreased on 1,6 %, NOVATEKa on 0,46 %. The exception is made again by actions “ Tatneft “ which by 12:30 Moscow time have risen in price for 0,53 %. Apparently, support on - former the decision of rating agency Moody`s to appropriate the company renders them a corporate rating “ Ba2 “ with “ stable “ the forecast.
poorly today looks also actions of the Russian banks against the next problems in world financial sector: ordinary papers of the Savings Bank by 12:30 Moscow time have fallen in price on 1,31 %, exclusive - on 1,55 %, VTB on 0,99 %.
the Sector of the power companies decreases today in the tideway of the general spirit in the market, however it is necessary to note interest of investors to papers FSK “ EUROPEAN ECONOMIC COMMUNITY “ and “ RusGidro “ which by 12:30 Moscow time have grown on 1,81 % and 0,58 % accordingly.
Among papers of the telecommunication companies positive dynamics while show “ Rostelecom “ (+0,29 %) and SZT (+2,0 %). “ Uralsvyazinform “ by specified time has fallen in price on 2,18 %. Actions of MTS on the threshold of end of period of validity of the offer on the repayment of papers at the price of 295 roubles for a piece poorly grow up - +0,12 %.
Yesterday`s growth of the Russian share market of analytics of Bank of Moscow are inclined to consider as a technical rebound after strong decrease during several sessions successively. Hardly the market in a current condition is capable to show the confident and fast lifting, despite high fundamental appeal, experts believe. On the other hand, according to analyst GK “ Alor “ Annas Ljukanovoj, from the technical point of view indexes now are near a local bottom, therefore in the nearest sessions the expert does not exclude consolidation at current levels. As a whole taking into account that the situation in foreign markets remains strained, the majority of experts advises to not speculative players to occupy while positions out of the market.