CIS Market Daily - June 3, 2019
MARKET COMMENT - LATEST TRADE WAR SALVOS DROVE INVESTORS FROM DM RISKS TO EM SAFE HAVENSWith the exceptions of China (-0.3%) and Mexico (-3.9%), almost all liquid EMs were in positive territory on Friday. MSCI's Russia and EM benchmarks rose 0.3% each. DMs fared worse, for instance the S&P 500 declining 1.3%, on the back of the latest escalation in the US/China trade war. Trade concerns have set up another rough morning for markets today, while this week's agenda holds PMIs, many remarks and reports from key central banks, and SPIEF. Meanwhile, China's 14% retreat in May has set up Russia as easily the best performing EM YTD.STORIES> CBR Preview: With inflation subsiding, a rate cut may be imminent> Gazprom: Paradigm shift in dividend outlook; upgrade to BUY
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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