Report
Alexander Golinsky ...
  • Alexey Bulgakov
  • Andrew Keeley
  • Andrey Kuznetsov
  • Andrey Gromadin
  • Anna Kotelnikova
  • Ekaterina Sidorova
  • Kirill Rogachev
  • Nikolay Minko

Долговые рынки сегодня - 15 мая 2019

РЫНОК ВНЕШНЕГО ДОЛГА СТРАН СНГПосле снижения в начале торгов суверенные российские бумаги во второй половине дня перешли к росту, и на фоне пониженных оборотов торгов большинство выпусков закрылись в плюсе. Россия-28 подорожали на 0,3 п. п. до 161,4% (4,5%, Z+214), Россия-47 прибавили 0,2 п. п., завершив сессию на уровне 102,45% (5,1%, Z+255). Спред российских пятилетних CDS сузился на 1 б. п.ГОСУДАРСТВЕННЫЕ ЦЕННЫЕ БУМАГИВ течение дня доходности ОФЗ в основном оставались без изменений. Под конец дня санкционные новости привели к росту доходности ОФЗ на 1-3 б. п. в выпусках от семи лет. Минфин планирует разместить 15-летние ОФЗ-26225 (май 2034, 7,25%, неразмещенный остаток от лимита - 141 млрд руб.), пятилетние ОФЗ-26227 (июль 2024, 7,40%, 274 млрд руб.) и индексируемые к инфляции ОФЗ-52002 (февраль 2028, 2,50%, будет предложено 5,3 млрд руб.). Мы предполагаем, что достаточным спросом будет пользоваться лишь пятилетний выпуск, тогда как длинный номинальный выпуск вряд ли сильно заинтересует участников рынка.НОВОСТИ> Комментарий к результатам Роснефти за 1К19> Результаты TCS Group за 1К19 на уровне прогнозов, слабый комиссионный доход, но динамичный рост кредитов и чистого процентного дохода> Менеджмент Газпрома предлагает удвоить дивиденды по сравнению с 2018 годом> НЛМК разместит новые долларовые еврооблигации> В Белоруссии обсуждается возможность привлечения кредита в Китае> Bank of Georgia: результаты за 1К19 по МСФО
Underlyings
Bank of Georgia GDR

Bank of Georgia Group

BGEO Group is a holding company. Together with its subsidiary, JSC Bank of Georgia (the Bank) and other subsidiaries, Co. makes up a group of companies that provide banking, insurance, real estate, utility, leasing, beverage production and distribution, brokerage and investment management services to corporate and individual customers. Co. has two operating segments: banking business, which comprises: retail banking and payment services, corporate investment banking and wealth management operations and banking operations in Belarus; and investment business, which comprises Co.'s stakes in Georgia Healthcare Group PLC, Georgia Global Utilities, m2 Real Estate, Aldagi and Teliani Valley.

Gazprom (GDR)

Gazprom PJSC

PJSC Gazprom is a gas company based in Russia. Co.'s principal activity is the sale of gas. Co. is also involved in other types of activities which include leasing of assets, gas transportation and storage services, sale of gas condensate and refined products. Co. and its subsidiaries and associates operates gas pipelines systems in Russia. Co. is responsible for substantially all gas production and high pressure gas transportation in the Russian Federation. Co. is also a major exporter of gas to European countries. Co. is directly involved in exploration and drilling for hydrocarbons, production of gas and other hydrocarbons and domestic and export sale of gas and other hydrocarbons.

NLMK (GDR)

Novolipetsk Steel

Novolipetsk Steel is a vertically integrated steel manufacturing and production group based in Russia. Co. specializes in the manufacturing of high-quality hot and cold rolled steel in a variety of grades and sizes. Co. is also engaged in production and sales of flat steel products including slabs, hot rolled and cold rolled sheet, electrical steel, galvanized steel, cold rolled sheet with polymeric coatings. In addition, Co.'s areas of manufacturing include sintering, coke production, blast furnace production, steel-making, hot and cold-rolled flat steel production, galvanized and prepainted steel production. Co. exports its products to 70 countries around the world.

Rosneft Oil Co.

OJSC OC Rosneft is a vertically-integrated Russian oil and gas company with upstream and downstream operations in each of Russia's oil-producing regions. Headquartered in Moscow, Co. operates ten oil and gas producing enterprises across Russia and is involved in over ten exploration projects. In addition to its upstream operations, Co. also owns two refineries, which have a combined capacity of 10 million tons per year, as well as four main oil export terminals and a nationwide network of over 600 service stations. Co.'s downstream operations consist of its crude oil export structure, refining operations and nationwide network of marketing subsidiaries.

Rosneft Oil Co. Sponsored GDR RegS

TCS Group Holding Plc Sponsored GDR Class A RegS

TCS Group Holding is a retail banking services group based in the Russian Federation. Co. is principally engaged in providing retail banking services in the Russian Federation through its subsidiaries, primarily Tinkoff Credit Systems. Co., through this subsidiary, fully licensed by the Central Bank of Russia and a member of the Deposit Insurance System, specializes in credit cards. Co. provides online retail financial services through a branchless operating platform. Co. also offers remote access to its financial products and services through its online banking as well as through mobile banking and high-volume call centers.

Provider
Sberbank
Sberbank

​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.

Analysts
Alexander Golinsky

Alexey Bulgakov

Andrew Keeley

Andrey Kuznetsov

Andrey Gromadin

Anna Kotelnikova

Ekaterina Sidorova

Kirill Rogachev

Nikolay Minko

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