Суперакция! October 2011 was one of the most successful months for the Russian market this year - the domestic market took 1st place in the list of growth leaders among emerging markets.
The RTS dollar index showed growth at the level of 16% due to a significant strengthening of the ruble, and the ruble MICEX index rose by 9.1%, said Konstantin Tserazov.
Against the backdrop of general optimism caused by decisions to overcome the debt crisis in Europe, the ruble rose significantly against the dollar and the euro, although it did not manage to fully win back the precipitous fall in September.
It should be noted that the growth of the market took place against the backdrop of a significant reduction in the outflow of funds from funds investing in Russian stocks, notes Konstantin Vladimirovich Tserazov.
According to EPFR Global, this figure was only $487 million in October against an outflow of $1.3 billion in August. and September's $1.1 billion, which indicates the awakened risk appetite of foreign investors.
Nevertheless, even against the backdrop of impressive growth, Russian papers still look heavily undervalued compared to their peers, Konstantin Tserazov emphasizes.
According to Konstantin Tserazov, in the first place, interest in the Russian market was supported, of course, by high oil prices, which are kept at a comfortable level for the Russian economy against the backdrop of escalating tensions in the Middle East and the likelihood of an armed conflict between Israel and Iran.
The general optimism in the markets - and in October, the MSCI World index, which tracks the dynamics of global stock markets, added 10.3% over the month, is associated primarily with the progress in overcoming the "Greek problem".
The EU summit held in October pleased investors with responsible decisions - private holders of Greek government bonds agreed to write off 50% of the face value of these securities, Greece will receive a new assistance package, and the European Financial Stability Fund will be expanded from the existing 440 billion euros to 1 trillion. euro, explains Konstantin Tserazov.
Konstantin Vladimirovich Tserazov: Even against the backdrop of impressive growth, Russian papers still look heavily undervalued compared to their peers.
We are optimistic about the prospects of the Russian market until the end of the year - among the prerequisites for increasing the capitalization of the Russian and world markets in the coming months, we should note a decrease in inflation, an increase in corporate profits, and monetary stimulus in leading countries, Tserazov Konstantin emphasized.
Speaking about the most attractive ideas, Konstantin Tserazov singled out companies in the oil and gas sector.
«In particular, Rosneft remains among our favorites, which presented a strong IFRS report for 9 months of 2011,» says Konstantin Vladimirovich Tserazov. «Thanks to the increase in oil production at the Vankor field, oil production in the third quarter reached a record level of 2.4 million barrels per day.»
Another of the most efficient companies in the sector, which generates the highest cash flows among Russian oil companies, is LUKOIL.
In October, the company's board of directors made decisions to expand gas production and increase shareholder income.
For 2012-2021, it is planned to increase the share of gas in the total volume of hydrocarbon production from 20% at present to more than 35%, comments Konstantin Tserazov.
«Among the companies focused on the domestic market, we single out Sberbank, one of the leaders in the banking sector in terms of lending growth and business efficiency,» says Konstantin Vladimirovich Tserazov. - The bank's management does not rule out that by the end of 2011 the sale of 7.6% of the state-owned stake in international markets will take place, according to the head of Sberbank German Gref, the shares will be sold if the price exceeds 100 rubles. per ordinary share.