OREANDA-NEWS. September 2, 2010. Veles Capital released Russian stock market evening report

Weak growth goes on at the market versus relatively calm foreign background. AvtoVAZ still is the favorite note showing quotes growth acceleration without any visible reason. The telecommunication companies are drop leaders, headed by Sibirtelecom, where the shreholders register was closed yesterday.

Considering therapid beginning of Fall at american grounds, the russian investors might likely continue play upwards also.

Bonds

After a long calm period the market got active on Wednesday. That mainly was supported by ruble strengthening, which in its turn has been caused by euro/dollar pair growth, which came along which still cheap funding rates. Primarily issues like ALROSA-21, -23, Gazprom Neft-5, -6, and also the note of Evraz and Norilsk Nickel were collected. Buyers were also rulling the Eurobond market, which made Russia 30 climb up to 119th figure.

Possibly on Thursday the buyers cool down a little but still the quotes growth is likely to continue.