The Russian market: sellers have left for holidays the firstOn Friday, on February, 19th, the auctions in the Russian stock market have begun decrease in quotations an occasion for which was unexpected increase FRS of the discount rate from 0,5 % to 0,75 %. The announcement of it has been made after closing of the auctions the day before in the United States and first of all was reflected in dynamics of the Asian markets and partly the Russian. However the intraday trend on domestic platforms last trading day all - taki was ascending as the prices for oil remained at high levels (78 dollars/ barr. On Brent), futures for the American indexes have won back night decrease, and participants of the auctions have paid attention to statement FRS that increase of the discount rate will not lead to fast increase in the base interest rate. Sellers have calmed down, and domestic indexes have finished day with a gain.
Following the results of trading session on February, 19th the Moscow Interbank Stock Exchange index has raised on 1,12 % - to 1353,75 points, RTS has risen on 0,87 % - to 1423,13 points. The volume of the auctions by actions on FB the Moscow Interbank Stock Exchange has made 50,72 mlrd rbl. Total amount of the auctions in RTS has reached 161,94 mlrd rbl. Volume of the auctions by actions in RTS has made 12,17 mlrd rbl.
Affinity of the prices for oil to the maximum marks for last month on Friday has allowed representatives of oil and gas branch to catch the big share of attention of buyers. “ to Gazprom “ besides in UniCredit Securites have raised the recommendation to “ to buy “. As a result concern capitalisation has grown on 1,4 %. Papers “ Tatneft “ have risen in price for 1,09 %, NOVATEKa - on 2,2 %, LUKOIL - on 1,48 %, “ Surgutneftegaz “ - on 1,95 %, “ Rosneft “ - on 2,95 %.
on February, 19th it became known that analysts IK “ the Three Dialogue “ Have reconsidered recommendations for a number of the companies of steel and coal sectors of the Russian Federation in view of sharp rise in prices expected by experts for coal in the near future, and in more remote prospect and on a steel. Now the recommendation “ to buy “ it is appropriated to papers NLMK (+1,88 %), MMK (+0,35 %), “ Severstal “ (+0,84 %) and “ a Mechel “ (+0,74 %). For actions TMK the recommendation " has been kept; to hold “ as, according to analysts, financial results of the company for the first half of the year 2010ã. Will appear below market expectations. Capitalisation TMK has fallen to 0,21 %. “ Norilsk nickel “ has grown on 1,64 %.
Representatives of bank sector bargained raznonapravlenno, but the branch index on a gain for a day (+0,85 %) has appeared on the second place after oil and gas (+1,69 %). Increase have finished day of a paper of Bank of Moscow (+0,1 %), bank “ the Renaissance “ (+5,88 %), MDM - bank (+11,49 %) and VTB (+1,51 %). Look-ahead cost GDR of the last has a little raised Goldman Sachs. Under pressure there were quotations “ Rosbank “ (- 3,85 %), corrected to growth on 30 %, to an event in previous day, and the Savings Bank (- 0,79 %). Sales of actions of the last contrary to the general dynamics of the market, probably, have been caused by the compelled closing long marzhinalnyh positions after the price of papers of bank has fallen to level of two-month prescription.
the branch of telecommunications has not pleased on February, 19th with growth. Capitalisation “ Uralsvyazinform “ by the end of day it was reduced to 0,81 %, “ Rostelecom “ - on 0,46 %, “ Sibirtelekoma “ - on 0,87 %, “ severo - the Western Telecom “ - on 0,44 %, JUTK - on 0,9 %, MTS - on 0,19 %, AFK “ System “ - on 0,61 %.
Have continued the decrease which has begun on two days before, papers “ Uralkalija “ - they began last trading sessions gepom downwards and further negative dynamics prevailed. Investors do not favour the manufacturer in connection with one more collapse of mine of the company and convocation of the commission for studying of the reasons of an event. To closing of the auctions of the action “ Uralkalija “ have gone down in price on 3,72 %, having dragged away behind itself “ Akron “ (- 1,56 %) and “ Silvinit “ (- 0,32 %).
it is clear that dynamics of the auctions at session coming on Wednesday will depend entirely on dynamics of the western platforms, however the reasons for an exit of an index of the Moscow Interbank Stock Exchange from a range 1320 - 1370 points while are not present. pereprodannost actions starts to fall down, in spite of the fact that the market has completely not far left from minimum levels of current year. Players can refuse expectations of deep correction, and speculators - from its realisation therefore in the nearest some sessions the Moscow Interbank Stock Exchange index will continue consolidation in the specified range, forming base for a new coil of growth.
analysts make following recommendations about actions of the leading Russian companies:
LUKOIL: to accumulate
Surgutneftegaz: to hold
Gazprom: to buy
the Savings Bank of Russia: to accumulate
Norilsk nickel: to accumulate
MTS: to accumulate
NK Rosneft: to accumulate
Bank VTB: to hold
Recommendations are made on the basis of annual a consensus - forecasts targetov the investment companies presented in a product “ Forecasts of the prices of actions “.