The main catalyst for the growth of short-term securities FGC - The announcement of the parameters of the transition to RAB-regulation - has exhausted its potential
As a result, the bidding 20.10.2009 MICEX, electricity fell by 0,6% and closed at around 2 352 points, while trading volumes have grown up a bit on the previous trading session. Stock Quotes largest companies in the sector have demonstrated on the eve of differently directed dynamics: FGC has lost 2,9% of its market capitalization, the value of securities RusHydro decreased by 1.3%, stock quotes, IDC Holding have grown on 0,3%, the paper Mosenergo prices increased by 0,7%, while shares of Inter RAO - by 2,5%.
We pay special attention to the negative dynamics of shares of FGC UES, which on Tuesday became cheaper by almost 3%, demonstrating worse results than the shares of other power distribution companies (their quotes on the average decreased by 0,7%). Notably, stock quotes, IDC Holding finished the trading session in positive zone.
We believe that the main catalyst for the growth of short-term securities FGC - The announcement of the parameters of the transition the company to RAB-regulation - has exhausted its potential, and now FNC is unlikely to bargain for higher price levels than the market as a whole. On the other hand, the parameters of the transition distribution companies in the sector RAB-regulation has not yet been sounded, and we believe that disclosure of these parameters will serve as a catalyst for growth in market distribution network.
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