CIS Market Daily - November 29, 2021
MARKET COMMENT - CBR, FED, RESULT HEADLINES DUE WHILE OMICRON, UKRAINE STILL IN FOCUSMarkets saw sharp selloffs on Friday as investors reacted to headlines regarding the Omicron Covid-19 variant. The MSCI EM fell 2.5%, the MSCI World (DM) 2.2% and the RTS 4.6% (to 1,589). While APAC markets are soft today, catching up to Friday's global weakness, indicators for Russia, EMEA and US markets currently signal a rebound. Ukraine and Belarus headlines remain in focus for the region, while remarks from the CBR and Fed, company results and US nonfarm payrolls are among the events to watch this week.STORIES> EM equities' 15-week streak of inflow ends> Transneft 3Q21 preview: Mixed results expected> Rosseti and Federal Grid Company report 3Q21 IFRS results
Federal Grid Company Of Unified Energy System PJSC operates and manages the electricity transmission grid infrastructure of the Russian Unified National Electric Grid (the UNEG). Co.'s principal operating activities consist of providing electricity transmission services, providing connection to the electricity grid, maintaining the electricity grid system, technical supervision of grid facilities and investment activities in the development of the UNEG.
PJSC Rosseti is a holding company based in Russia. Co. is engaged in the management of companies that operate in the energy sector. Co.'s core business is the management of electric grid subsidiaries for the purpose of pursuing a common policy in the field of electric grid services, specifically in the area of innovations, energy conservation and energy efficiency, development and implementation of a common strategy for developing the distribution electric grid sector of the Russian Federation. Co.'s other services comprise property management, consulting, securities operations, scientific research and construction and transport and expedition.
Transneft is an oil pipeline group based in the Russian Federation. Co. and its subsidiaries operate a crude oil pipeline system totalling 50,142 km. Co. transport millions of tons of crude oil to domestic and export markets. Co. produces a substantial majority of the crude oil in the territory of the Russian Federation. In addition, Co., through Group Transnefteproduct operates an oil products pipeline system in the Russian Federation and in the Republics of Belarus and Ukraine totalling 18,746 km. Through its associate OOO LatRosTrans, Co. operates an interconnected system in the Latvian Republic.
Sberbank CIB Investment Research is a research firm offering equity, fixed income, economics, and strategy research. It covers analysis on all aspects of Russia’s capital markets, issues and industries. The firm analyzes trends in Russia and combines local knowledge with a global perspective. It processes macroeconomic data, market and company-specific news, stock quotes and other information for providing research reports. The firm provides details and latest prices on the most traded names and most traded paper on all segments Russian market. In strategy research, it provides thematic research, tips and descriptions of the methodology used to evaluate companies.
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