Report
Andrey Kuznetsov ...
  • Cole Akeson
  • Fedor Kornachev
  • Georgiy Ivanin
  • Lyudmila Melnikova
  • Mikhail Krasnoperov
  • Research Team
  • Sergey Donskoy

CIS Market Daily - October 18, 2021

MARKET COMMENT - CYCLICAL STRENGTH ON FRIDAY; INFLATION, COMMODITY WORRIES TODAYMarkets rose for a third consecutive day on Friday, with cyclicals generally in the lead (joined by Chinese tech). The MSCI EM gained 1.3%, MSCI World (DM) 0.8% and RTS 0.8% (to 1,892). While US macro data tended to support markets on Friday, mixed Chinese GDP and industrial production data have this morning provided an excuse to continue the profit taking that emerged on APAC opens today. Global and Russian indicators are mostly in negative territory, except for a further climb in oil prices. STORIES> Yandex.Plus subscribers reach 10 mln> X5 Retail Group's top-line growth accelerates to 11.6% y-o-y in 3Q21> Energy Ministry offers to increase tariffs for technological connections to grids for business> Etalon Group expands to Novosibirsk Region> Placing PhosAgro UNDER REVIEW
Underlyings
Etalon Group (GDR)

Etalon Group is a real estate development and construction company. Co.'s principal activity is residential development in Saint-Petersburg metropolitan area and Moscow metropolitan area, the Russian Federation. Co. has three reportable segments: Residential Development, which includes construction of residential real estate including flats, built-in premises and parking places; Constructions Services, which includes construction services for third parties and for internal purpose; and Other Operations, which include selling of construction materials, construction of stand-alone premises for commercial use and various services related to sale and servicing of premises.

PhosAgro PJSC

PhosAgro is a producer of phosphate-based fertilizers. As of Dec 31 2014, Co. had two segments: Phosphate-based products, which includes mainly production and distribution of ammophos, diammoniumphosphate, sodium tripoly phosphate and other phosphate based and complex (NPK) fertilisers on the factories located in Cherepovets, Balakovo and Volkhov, and production and distribution of apatite concentrate extracted from the apatite-nepheline ore, which is mined and processed in Kirovsk; and Nitrogen-based products,which includes mainly production and distribution of ammonia, ammonium nitrate and urea on the factory located in Cherepovets.

PhosAgro PJSC Sponsored GDR RegS

Rosseti

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.

X5 Retail Group N.V. Sponsored GDR RegS

X5 Retail Group is a holding company. The main activity of Co. is the development and operation of grocery retail stores. Co. operates a retail chain of soft-discount, supermarket and hypermarket stores under the brand names "Pyaterochka", "Perekrestok" and "Karusel" in major population centres in Russia, including but not limited to Moscow, St. Petersburg, Nizhniy Novgorod, Rostov-on-Don, Kazan, Samara, Lipetsk, Chelyabinsk, Perm, Ekaterinburg and Kiev, Ukraine.

Yandex NV Class A

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.

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
Andrey Kuznetsov

Cole Akeson

Fedor Kornachev

Georgiy Ivanin

Lyudmila Melnikova

Mikhail Krasnoperov

Research Team

Sergey Donskoy

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