Federal Hydrogenerating Company JSC

  • TickerHYDR
  • ISINUS7821834048
  • ExchangeLondon Stock Exchange
  • SectorElectricity
  • CountryRussia

BCS Equity Daily: Transneft, NLMK, MTS, RusHydro

China Mfg beats vs WHO alarm, pressured Brent Ahead: Prudence entering holiday. China official June manufacturing PMI beat (50.9 vs 50.4 expected), signaling economic recovery is continuing and, hence, demand from the world’s largest importer of oil is, for now, intact – fodder for the Bullish generally and oil Bulls in particular. However, any upside will be capped by WHO’s foreboding assessment that the COVID-19 pandemic “is not even close to being over… [and] the worst is yet to come.” WHO’s warning cautions that demand may be at risk, in turn, Brent is under some pressure, with sentiment...

BCS Equity Daily: Transneft, NLMK, MTS, RusHydro

China Mfg beats vs WHO alarm, pressured Brent Ahead: Prudence entering holiday. China official June manufacturing PMI beat (50.9 vs 50.4 expected), signaling economic recovery is continuing and, hence, demand from the world’s largest importer of oil is, for now, intact – fodder for the Bullish generally and oil Bulls in particular. However, any upside will be capped by WHO’s foreboding assessment that the COVID-19 pandemic “is not even close to being over… [and] the worst is yet to come.” WHO’s warning cautions that demand may be at risk, in turn, Brent is under some pressure, with sentiment...

BCS Equity Daily: Fund Flows, LUKOIL, Norilsk Nickel, Mechel, Alrosa, Sberbank, Sistema, Rushydro, X5 Retail Group

Recovery, OPEC+ hopes, ECB ‘600’ Ahead: Tempered into the weekend. The ‘Russia trade’ appears ripe for some bargain hunting after the kneejerk Norilsk-led selloff yesterday. Indeed, the economic ‘reopening’ card is still at play and, bolstering risk appetite, OPEC+ appears set to meet on 6-7 June to discuss extending current record-level cuts beyond June – easing some angst as the meet had been expected to held yesterday, but was delayed due to commitment issues, which thus far remain. Also to the upside, the ECB – joining the ranks of other central banks that of late have offered up massiv...

Equity Daily: Lukoil, Steels, Alrosa, Halyk Bank, Rushydro

High stakes summer – Precarious cyclical rally Week Ahead: Risks in US-China and a second COVID wave. US-China tensions ratcheted up at the end of last week and, although some relief was felt on the lack of new economic measures, the spat is a clear negative force for markets – such stress will continue to be a concern. Meanwhile, front and center remains the COVID pandemic – a second wave of infections is very likely following mass reopenings, while the macro fallout will continue as we head into prime tourist season. Indeed, markets have been shrugging off unprecedented weakness in economi...

BCS Equity Daily: Fund Flows, Gazprom Neft, Severstal, Steel sector, Rushydro, Aeroflot

US-China joust center stage, Brent pressured Ahead: Taking cash into the weekend. Following the surge yesterday on ECB stimulus, economic re-openings and encouraging US data points (e.g., jobless claims, housing demand), expect the ‘sell into strength’ card to be played. Indeed, the stage is set for US President Trump to counter Beijing’s march to approve the controversial national security bill for Hong Kong – Trump has called press conference for today; at risk, the ‘Phase 1’ trade deal, at least. Also denting sentiment, the demand-supply oil outlook faces headwinds. Rising US-China tensio...

Dmitriy Skryabin ...
  • Maria Lukina

BCS Utilities Quarterly: 1Q20 – Good quarter for HYDR

The Utilities Quarterly, a new product, analyzes key sector trends and changes to provide insight into future operating and financial results. With this edition, we offer a look at how sector dynamics will play into 1Q20 performance. - 1Q20 Share Price Performance: Utility sector beat MOEX Index o HYDR led, IRAO relatively stable, UPRO down -7%, FEES hit the most - Record high hydro output (+23% y/y) provides cheaper alt. to fossil fuel o Fossil fuel gencos pressured – output cut 8% on average - Further pressure from weak electricity prices – -6% in Euro, -11% in Siberia - Still, the reg...

BCS Fixed Income Daily: Economics, RusHydro, Russian Railways, Gazrpom Neft, Belarus, PhosAgro

Trade talks optimism unraveling Ahead: Helplessly hoping a deal is made. US-China news is still the main game in town. With China reportedly “pessimistic” about a potential deal being struck, markets may be ready to pare some gains. A deal is likely to remain elusive – without a change of heart, China won’t accept anything less than a rollback of US tariffs, while Trump is unlikely to strike such a deal for fear of leaving the US with little ammo for further talks. That said, the lack of progress didn’t stop US markets from making some small gains (though reaching record highs) after Russia...

BCS Fixed Income Daily: RusHydro, Norilsk Nickel

Waffling trade rhetoric, softer Brent Week Ahead: Hopeful, but sober. Yet another week opens, with trade again a function of US-China trade headlines and oil supply-demand dynamics. On the former, US President Trump waffled – to the upside, he waxed optimistic that talks were progressing very well, but he backtracked by saying some reports last week that the US was willing to lift tariffs as part of a “phase one” agreement were incorrect. The renewed concern that a trade deal may prove elusive and hinder growth (hence, demand), together with OPEC projections that supply would remain ample in...

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