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Tuesday, January 11, 2011

Russian stock market daily evening report January 11, 2011, Tuesday

Russian stock market daily evening report January 11, 2011, Tuesday ; Market today. The first trading session of the year opened in major tune – the most of the liquid chips added in price following the oil, the quotes of which were testing the level of 96 USD per barrel. So, the oil sector, especially Surgutneftegas, showed good positive dynamics. Also demand was indicated in the shares of the metallurgy sector (Severstal, MMC, and Mechel).

Market tomorrow. Today the market won back the global events of the past 10 days. Starting from tomorrow the shares will be reacting to the usual factors, which do not indicate any possibility of the significant quotes change. Low activity should also be kept in mind – many investors are still out for vacation.

Bonds
Market today. On the first trading day after the long New Year vacation the Russian investors were passive. By the number of deals we might outline Vimpelcom-3, Transneft-3 and VTB MB-2 among the issues being traded. Yields of the Russian Eurobonds on Tuesday, same as during all the previous week, kept the yields spreads versus UST they reached earlier. As a result the price of the indicative loan Russia-30 by the close of the daytime session upped by 50 b.p. versus the previous close to the level of 116.25% of the nominal value.

Market tomorrow. We expect the mild activity to preserve at the domestic debt market during the whole week. The Eurobond market might be affected by the auction on placement of the loan by Portugal, the results of which evidently will define the price dynamics for the near future. For the latest updates PRESS CTR + D or visit Stock Market news Today

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