Report
Anastasia Khakhaeva ...
  • Andrew Keeley
  • Andrey Kuznetsov
  • Andrey Gromadin
  • Arthur Cherkesov
  • Cole Akeson
  • Fedor Kornachev
  • Georgiy Ivanin
  • Mikhail Krasnoperov
  • Research Team

CIS Market Daily - August 27, 2021

MARKET COMMENT - FED, GEOPOLITICAL JITTERS TRIGGERED A DECLINE THAT IS BEING REVERSED TODAYThe MSCI ACWI fell 0.5% as investors reacted to hawkish comments from Fed governors and volatility following events in Afghanistan. The RTS fell 1.1% to 1,635. However, indicators are up across the globe this morning as investors react to Chinese reassurances, a decline in the dollar and an opportunity to buy the dip. STORIES> EM equities see slight net inflow, Russia outflow improves> Gazprom 2Q21: Expecting another strong quarter despite seasonality> Tatneft 1H21 DPS low, as 2Q21 IFRS results not taken into account> Gazprom reportedly launching new gas condensate capacity later this year> TCS 2Q21 IFRS review: Record quarter, guidance raised> Yandex: Yango Deli beta testing in Paris> RusHydro 2Q21 IFRS results in line with consensus> Sovcomflot 2Q21 IFRS review: Tanker rates may begin to slowly recover in 4Q21> Globaltrans 1H21 IFRS preview: Still reflecting low pricing in gondola segment, focus on dividend plans
Underlyings
Federal Hydro-Generating Company - RusHydro PJSC

PJSC RusHydro is a hydro-generating company based in Russia. Co. is engaged in the generation and sale of electricity and capacity on the Russian wholesale and retail markets, as well as generation and sale of heat energy. The main activity of Co. is production of power from renewable energy sources, developing power generation using water flows, tidal, wind and geothermal energy. It has an installed electricity generation capacity of 38.5 GW; and heat capacity of 16.2 GCal/h.

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.

Globaltrans Investment Plc Sponsored GDR RegS

Globaltrans Investment is a rail transportation company in the Russian Federation. Co. is engaged in providing a wide range of railroad freight transport and logistics services. Co. provides rail freight transport and logistics services, as well as certain ancillary services to industrial customers and medium-size corporate customers in Russia and to destinations within Russia and to Ukraine. Co.'s regional network encompasses 10 branch offices. Co. is a private participant in the transportation of scrap and ferrous metals and it has market positions in the transportation of construction materials and ores.

Sovcomflot

TATNEFT (PREF A)

TATNEFT PJSC

Tatneft PJSC and its subsidiaries are engaged in crude oil exploration, development and production principally in the Republic of Tatarstan, Russia. Co. is a holding structure, which incorporates oil and gas production boards, crude oil and gas refining companies, as well as enterprises and servicing works selling the crude oil and also the products of crude oil and gas refining and petrochemical products. In addition to this, Co. is also participating in the banking and insurance activities. Co.'s operations are divided into the following main segments: Exploration and Production; Refining and Marketing; and Petrochemicals.

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.

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
Anastasia Khakhaeva

Andrew Keeley

Andrey Kuznetsov

Andrey Gromadin

Arthur Cherkesov

Cole Akeson

Fedor Kornachev

Georgiy Ivanin

Mikhail Krasnoperov

Research Team

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