- Anton Stroutchenevski
- Artem Vinogradov
- Ekaterina Sidorova
- Igor Rapokhin
- Olga Sterina
- Research Team
- Rodion Lomivorotov
- Sergey Kolesnikov, FRM
Debt Markets Today - September 17, 2021. Gazprom Expands 2021 Capex Program, Eurotorg 1H21 Financials, Ukraine Macro Data
CIS EUROBOND MARKETThe Russian sovereign Eurobond market was flaccid yesterday. The only movements came at the long end of the curve, where prices ticked up 0.2-0.3 pp on the day. Local investors continue to buy euro-denominated issues, though quotes were basically flat.GOVERNMENT DEBTOFZs opened yesterday with yields falling 1-3 bps as the market priced in Wednesday's weekly inflation print that showed a w-o-w slowdown. However, a subsequent correction in US Treasury yields (the 10y surged 4 bps following the stronger than expected US retail sales report) meant that OFZs were unable to hold on to their gains. By the close yields were up 1-3 bps from Wednesday's closing levels. Trading volumes on the Moscow Exchange totaled R37 bln, more than half of which was in the 5-7y segment.STORIES> Gazprom expands 2021 capex program, borrowing plan little changed> Eurotorg publishes 1H21 financial results> National Bank of Ukraine raises key rate 50 bps; anti-crisis measures to end in 4Q21> Inflation in Ukraine holds at 10.2% y-o-y in August> Ukraine's basic sector output growth ticks up in JulyDetskiy 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.
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.
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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