By 11:15 Moscow time the Russian stock indices demonstrated neutral dynamics: RTS (-0.33%), MICEX (0,03%). Opened in the positive zone, the Russian platform upward movement slowed down due to a small decline in oil prices. This is facilitated by a neutral and dynamics at the opening of European stock exchanges: English FTSE adds 0.09%, French CAS40 losing 0.17%.
optimism at the opening of the players contributed to yesterday's closing of U.S. indices in positive zone. Dow Jones closed at 8915.94, paragraph mark, which corresponds to the growth of 0,76%, S P500 was 9545.58 section (0.36%). This dynamic has contributed chapters address the U.S. Federal Reserve Ben Bernanke, in which he confirmed that the rates remain at current low levels sufficiently long time, and the risk of rising inflation is not yet available. Positive market added reporting Caterpillar, were significantly better prognosis.
in the oil market on Wednesday, we have seen a slight decline. Price nearest futures contract for WTI crude oil grade is 65.1 U.S. $ /barrel.
Prices most liquid shares on the MICEX as follows: Gazprom - 159,8 EUR (-0,14%), Lukoil - 1516.88 EUR (-0,20%), Rosneft - 177.64 EUR (-1, 03%), MMC Norilsk Nickel - 3079 EUR (0,81%), Sberbank - 40.34 EUR (-0.22%), VTB - 0.0367 EUR (-0.81%), Rusgidro - 1,105 rubles ( 0.73%). In the second line to note the continuing rise in the shares of steel companies in advance of the meeting of metallurgists with the Prime Minister, to be held on 25 July, and which will be discussed measures to support the industry.
Recent highlights the following important messages:
Pharmstandard published operating results for 1 half of 2009, which were above market expectations. The high dynamics of sales (more than 62% in Russian rubles, compared to 1 half of 2008) the company achieved largely thanks to winning the public tender of the program proposals for the delivery of original product manufacture Janssen-Silag of more than 2,5 billion rubles.
These supplies and provided more than three-fold increase in sales in the segment of prescription drugs. We commend the results Pharmstandard on the basis of the reporting period, which can support the company's stocks in the short term. Nevertheless, given that the distribution of business less marzhinalen, we do not expect significant growth in profitability on the basis of 1 semester at the expense of the supply of foreign drugs, the program proposals. According to our estimates, shares Pharmstandard is already fairly valued market. According to our estimates, approximate fair value of the shares is $ 34.5.
21 July has been published financial statements of Inter RAO for 2008 under IFRS. We appreciate the financial statements Inter RAO for various reasons. First, investors finally be an opportunity to get a business Inter RAO as a whole, taking into account the foreign assets of the company. Secondly, the company for the year significantly improve its profitability. The third is an opportunity to conduct a comparative assessment of Inter RAO with the most liquid Russian electric power companies: FGC and RusGidro. And multiplier EV /EBITDA (2008) Inter RAO traded from about 25% discount to the company. We believe that publication of reporting Inter RAO will reflect positively on the company's stock quotes.
Further dynamics of Russian sites will be determined by oil prices and the movement of U.S. stock indexes, which, in turn, will be based on published reports and statistics. The Russian market is locally overheated, and we are expecting a small decline in the coming days. In addition, oil quotes uperlis of resistance in the region of 66 USD /barrel. We recommend that you use for the reduction of open positions, as Russia came from the downward corridor, and the publication of reports of American companies contributed to the revision of apocalyptic forecasts of economic recovery.
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Analyst Ratings
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The course increased dollar purchases - the morning review of cash markets
MOF United States will require stricter oversight of credit rating agencies
Americans have learned to save and not buy on credit
National Bank of Ukraine and a number of banks are requested to the President and Cabinet of Ministers of Ukraine to ensure the legitimacy of their legal dispute with Natsdepozitariem
In the risk today might be the paper of metallurgical companies and banks
Today, there is the fixing of profit on Wall Street, markets should take a break after such a long growth
Oil prices over the past 24 hours have increased by $ 0.75 to $ 66.85 per barrel of Brent class
Factors for the Russian market down turn has not yet been seen, the external environment remains positive
Futures on the S P500 in a small red - apparently against the backdrop projection Yahoo!, Issued after the closing of U.S. market
The Russian market is overheated locally, in the coming days is expected a small decline
By 11:15 Moscow time the Russian stock indices demonstrated neutral dynamics: RTS (-0.33%), MICEX (0,03%). Opened in the positive zone, the Russian platform upward movement slowed down due to a small decline in oil prices. This is facilitated by a neutral and dynamics at the opening of European stock exchanges: English FTSE adds 0.09%, French CAS40 losing 0.17%.
optimism at the opening of the players contributed to yesterday's closing of U.S. indices in positive zone. Dow Jones closed at 8915.94, paragraph mark, which corresponds to the growth of 0,76%, S P500 was 9545.58 section (0.36%). This dynamic has contributed chapters address the U.S. Federal Reserve Ben Bernanke, in which he confirmed that the rates remain at current low levels sufficiently long time, and the risk of rising inflation is not yet available. Positive market added reporting Caterpillar, were significantly better prognosis.
in the oil market on Wednesday, we have seen a slight decline. Price nearest futures contract for WTI crude oil grade is 65.1 U.S. $ /barrel.
Prices most liquid shares on the MICEX as follows: Gazprom - 159,8 EUR (-0,14%), Lukoil - 1516.88 EUR (-0,20%), Rosneft - 177.64 EUR (-1, 03%), MMC Norilsk Nickel - 3079 EUR (0,81%), Sberbank - 40.34 EUR (-0.22%), VTB - 0.0367 EUR (-0.81%), Rusgidro - 1,105 rubles ( 0.73%). In the second line to note the continuing rise in the shares of steel companies in advance of the meeting of metallurgists with the Prime Minister, to be held on 25 July, and which will be discussed measures to support the industry.
Recent highlights the following important messages:
Pharmstandard published operating results for 1 half of 2009, which were above market expectations. The high dynamics of sales (more than 62% in Russian rubles, compared to 1 half of 2008) the company achieved largely thanks to winning the public tender of the program proposals for the delivery of original product manufacture Janssen-Silag of more than 2,5 billion rubles.
These supplies and provided more than three-fold increase in sales in the segment of prescription drugs. We commend the results Pharmstandard on the basis of the reporting period, which can support the company's stocks in the short term. Nevertheless, given that the distribution of business less marzhinalen, we do not expect significant growth in profitability on the basis of 1 semester at the expense of the supply of foreign drugs, the program proposals. According to our estimates, shares Pharmstandard is already fairly valued market. According to our estimates, approximate fair value of the shares is $ 34.5.
21 July has been published financial statements of Inter RAO for 2008 under IFRS. We appreciate the financial statements Inter RAO for various reasons. First, investors finally be an opportunity to get a business Inter RAO as a whole, taking into account the foreign assets of the company. Secondly, the company for the year significantly improve its profitability. The third is an opportunity to conduct a comparative assessment of Inter RAO with the most liquid Russian electric power companies: FGC and RusGidro. And multiplier EV /EBITDA (2008) Inter RAO traded from about 25% discount to the company. We believe that publication of reporting Inter RAO will reflect positively on the company's stock quotes.
Further dynamics of Russian sites will be determined by oil prices and the movement of U.S. stock indexes, which, in turn, will be based on published reports and statistics. The Russian market is locally overheated, and we are expecting a small decline in the coming days. In addition, oil quotes uperlis of resistance in the region of 66 USD /barrel. We recommend that you use for the reduction of open positions, as Russia came from the downward corridor, and the publication of reports of American companies contributed to the revision of apocalyptic forecasts of economic recovery.
1 users rated material 5.
Analyst Ratings
The course increased dollar purchases - the morning review of cash markets
MOF United States will require stricter oversight of credit rating agencies
Americans have learned to save and not buy on credit
National Bank of Ukraine and a number of banks are requested to the President and Cabinet of Ministers of Ukraine to ensure the legitimacy of their legal dispute with Natsdepozitariem
In the risk today might be the paper of metallurgical companies and banks
Today, there is the fixing of profit on Wall Street, markets should take a break after such a long growth
Oil prices over the past 24 hours have increased by $ 0.75 to $ 66.85 per barrel of Brent class
Factors for the Russian market down turn has not yet been seen, the external environment remains positive
Futures on the S P500 in a small red - apparently against the backdrop projection Yahoo!, Issued after the closing of U.S. market