- Andrey Kuznetsov
- Cole Akeson
- Fedor Kornachev
- Lyudmila Melnikova
- Mikhail Krasnoperov
- Research Team
CIS Market Daily - July 16, 2021
MARKET COMMENT - SHAKEN FED CONFIDENCE, INVESTMENT CLIMATE, POLITICAL HEADLINES IN FOCUSMarkets leaned bearish yesterday amid perceptions that Fed Chairman Jerome Powell is less confident than in the past regarding inflation and growth trends. The MSCI ACWI declined 0.3%. Russia underperformed with a 0.8% decline on the RTS (1,612), as energy stocks were under pressure both in Russia and abroad. Media reports touched on the investment climate, Nord Stream 2 and election interference, in addition to the consumer news we discuss below. STORIES> Yandex 2Q21 US GAAP results preview> Detsky Mir 2Q21 trading update: Top line up 30% y-o-y> FAS approves Magnit-Dixy deal, but with several prescriptions; no material impactDetskiy Mir PAO is a Russia-based company, which is primarily engaged in the children products retail sector. The Company offers a wide range of products, such as toys, clothing and footwear, baby goods, stationery, school and learning related products, creative kits, sport related products, food, car seats, furniture, among others. The Company's structure includes the chain of stores Detskiy Mir and the retail network ELC (Early Learning Center). The Company's Detskiy Mir chain comprises over 480 stores located on the territory of the Russian Federation and Kazakhstan, as well as more than 40 ECL stores. Detskiy Mir PAO is primarily active domestically and in the Commonwealth of Independent States (CIS) countries. In addition, the Company sells products online via its Website. The Company's major shareholder is AFK Sistema PAO.
Magnit is a holding company. Through its subsidiaries, Co. operates in the retail and distribution of consumer goods under the Magnit name. Co.'s retail operations are operated through convenience stores, cosmetic stores, hypermarkets and other. Most of its stores are located in the Southern, Central and Volga regions. Co. also operates stores in the North-Western, North-Caucasian, Urals and Siberian regions. As of Dec. 31 2014, Co.'s stores chain consisted of 9,711 stores: 8,344 convenience stores, 190 hypermarkets, 97 Magnit Family stores and 1,080 drogerie stores in 2,108 cities and towns throughout the Russian Federation.
Yandex is an internet and technology company that operates an internet search engine in Russia. Co. builds intelligent products and services powered by machine learning. Co.'s products and services are based on complex, unique technologies that are not easily replicated. Co. generates substantially all of its revenues from online advertising. Co. also generates revenues from its e-commerce offerings, classifieds and e-hailing service. Co.'s businesses are organized in the following operating segments: Search and Portal; E-commerce; Taxi; Classifieds and Experimental businesses.
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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