G20 - no surprises
Monday morning is not good, the reduction of world indices and prices of oil and metals spoke in favor of opening Russia's stock market in the red zone. Reducing the opening should reach 1-1.5%. Worse than the market would be the financial and oil and gas sector.
Today, an important U.S. statistics is not expected during the day Russia's stock market will focus on the European sites and oil prices. Once again it bears repeating that the price of oil depends on cash flows and profitability of Russia's sovereign bonds, ie discount rate in the construction of DCF. The price of oil is the main factor which affects the fundamental assessment of the domestic companies.
G20 summit has not brought serious news for the market. The increased quota in the IMF and the World Bank is not a primary news for the market. A bonus in the majority of Russia's financial institutions have long tied to specific financial results. However, Dmitry Medvedev, Russia is positioning as part of the Western world, and this should facilitate the inflow of foreign capital in Russia's stock market, which traded around 50% discount to pre-crisis levels.
Major European consumers Russia's gas, Germany, Italy and Turkey did not choose the minimum number prescribed contracts. Consequently, Italy's ENI, German E. ON, Turkish Botas and several other companies fall under the principle of take or pay and have to pay Gazprom a fine of up to $ 2.8 billion, the Turkish side has asked to suspend the rule. Italy and Germany also did not want to pay, citing an exemption from a penalty inUkraine. However, Gazprom is not going to make concessions to contractors.
According to the media because of the accident at the Sayan-Shushenskaya HPP and. about. predpravleniya RUSHYDRO Basil Zubakina leave the company to replace it can Rosnano deputy head Andrei Malyshev. News is neutral for the company's shares, which, because of very negative news background traded well below the fundamental assessment, which, in our view, amounts to 1.5 rubles. per share.
Polyus Gold has published the results of the first half by the standards of US GAAP, which were better than market expectations. Raspadskaya published a report under IFRS for the first half of 2009, which also turned out to be better than market expectations. RUSAL Board of Directors approved an IPO in Hong Kong.
We are still awaiting release in the last quarter of the year RTS index in the corridor 1300-1500 points, which corresponds to the discounted cash flows of Russia's companies in the price band of $ 65-75 per barrel.
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Analyst Ratings
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Manual Economy: fingers will get tired …
Our drugs - is a credit needle, which Ukraine sat firmly, seriously and nadovgo …
Forecasts of analysts: Gap down at the opening of Russia's stock exchanges will be 1-1,5%, corrective mood may persist until the end of the day
Exit meaningful statistic data today is not planned, and therefore the correction in the market will continue until the end of the day
Russia's indexes today remain under the influence of oil prices, which this morning has traded below $ 65 a barrel
Russia stock market starts the week of the fall, the MICEX index will go to 1,170 items
The lack of any meaningful statistic data is unlikely to deter the players from today active sales
Following Friday the value of the MICEX Index reached 1187.86 points, which is 0.9% above the closing level of the previous trading day
External von moderately is negative: America closed lower, Asia is trading in the red
Today in Russia the market is expected to open lower than the closing Friday
Reduced Russia at the opening of tenders could reach 1-1.5%, worse than the market would be the financial and oil and gas sector
G20 - no surprises
Monday morning is not good, the reduction of world indices and prices of oil and metals spoke in favor of opening Russia's stock market in the red zone. Reducing the opening should reach 1-1.5%. Worse than the market would be the financial and oil and gas sector.
Today, an important U.S. statistics is not expected during the day Russia's stock market will focus on the European sites and oil prices. Once again it bears repeating that the price of oil depends on cash flows and profitability of Russia's sovereign bonds, ie discount rate in the construction of DCF. The price of oil is the main factor which affects the fundamental assessment of the domestic companies.
G20 summit has not brought serious news for the market. The increased quota in the IMF and the World Bank is not a primary news for the market. A bonus in the majority of Russia's financial institutions have long tied to specific financial results. However, Dmitry Medvedev, Russia is positioning as part of the Western world, and this should facilitate the inflow of foreign capital in Russia's stock market, which traded around 50% discount to pre-crisis levels.
Major European consumers Russia's gas, Germany, Italy and Turkey did not choose the minimum number prescribed contracts. Consequently, Italy's ENI, German E. ON, Turkish Botas and several other companies fall under the principle of take or pay and have to pay Gazprom a fine of up to $ 2.8 billion, the Turkish side has asked to suspend the rule. Italy and Germany also did not want to pay, citing an exemption from a penalty inUkraine. However, Gazprom is not going to make concessions to contractors.
According to the media because of the accident at the Sayan-Shushenskaya HPP and. about. predpravleniya RUSHYDRO Basil Zubakina leave the company to replace it can Rosnano deputy head Andrei Malyshev. News is neutral for the company's shares, which, because of very negative news background traded well below the fundamental assessment, which, in our view, amounts to 1.5 rubles. per share.
Polyus Gold has published the results of the first half by the standards of US GAAP, which were better than market expectations. Raspadskaya published a report under IFRS for the first half of 2009, which also turned out to be better than market expectations. RUSAL Board of Directors approved an IPO in Hong Kong.
We are still awaiting release in the last quarter of the year RTS index in the corridor 1300-1500 points, which corresponds to the discounted cash flows of Russia's companies in the price band of $ 65-75 per barrel.
7; users rated material on 3,3.
Analyst Ratings
Manual Economy: fingers will get tired …
Our drugs - is a credit needle, which Ukraine sat firmly, seriously and nadovgo …
Forecasts of analysts: Gap down at the opening of Russia's stock exchanges will be 1-1,5%, corrective mood may persist until the end of the day
Exit meaningful statistic data today is not planned, and therefore the correction in the market will continue until the end of the day
Russia's indexes today remain under the influence of oil prices, which this morning has traded below $ 65 a barrel
Russia stock market starts the week of the fall, the MICEX index will go to 1,170 items
The lack of any meaningful statistic data is unlikely to deter the players from today active sales
Following Friday the value of the MICEX Index reached 1187.86 points, which is 0.9% above the closing level of the previous trading day
External von moderately is negative: America closed lower, Asia is trading in the red
Today in Russia the market is expected to open lower than the closing Friday