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Analysis |
 Return Analysis
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Russian Stock Market Summary for September 24th – October 2nd, 2007.
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Due to some delay our analysis and summary will cover not only the events of the last week but also the first two days of the present week.
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The Russian market continues to trade positively, which is prompted by optimism, not to say euphoria reigning in the western stock markets. Apparently the problem of high-risk mortgage lending has been already included in the prices and gradually the concern is beginning to fade, while the problem is still there.
The RTS Index after growth to 2,050 was slightly corrected and tested 2,008 points. It was followed by a steady increase to 2,108 points with the further goals are at 2,128 and 2,150 points.
Last week Surgutneftegaz preference shares rose by 10% a day, which was initially attributed to the rumors of a possible merger of the company with a major government structure, and then to buying of the stock by a major foreign investment fund. In general these shares have risen within four days by 20% - from 15 rubles to 18 rubles per share. If the goals around 18.23 rub, 19.40 rub and 20 rubles are achieved, we can confidently say a long downward trend is over.
Since mid-August Gazprom has been trading in the rising channel, the growth resulted in the 282 rub. level, the goals are 291 and 294 rubles per share.
VTB is experiencing the worst trading. Its shares after an impressive growth last week, again dropped below the distribution value due to disappointing reporting data for the year. The comments by the banks management further persuaded the sellers in the correctness of their actions. Apparently, investors simply transfer their funds from VTB to Sberbank shares, which in turn have reached the price of 105 rubles per share. After a small correction the price around 109.5 rubles is expected.
Rostelecom has finally broken through 260 rubles, having reached 266.6 rubles per share. The next level is 273.50 rubles.
The active growth of the Russian market, which we predicted back in August, is now in full swing, prompted by the general improvement of the situation in the world stock markets and rising prices for resources.
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Created web000@mail.ru 2007 |
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