Sberbank - Lukoil (LKOD) ... Debt Markets Today - May 27, 2019

Report

Sberbank

Alexander Golinsky ...

Alisa Zakirova
Andrew Keeley
Andrey Kuznetsov
Andrey Gromadin
Anna Kotelnikova
Anton Stroutchenevski
Artem Vinogradov
Kirill Rogachev
Rodion Lomivorotov

Debt Markets Today - May 27, 2019

CIS EUROBOND MARKETRussian sovereign Eurobond quotes moved higher due to a slight improvement in the external backdrop and following the sharp decline in risk appetite the day before. The Russia 47 fared the best, adding 0.4 pp, followed by the Russia 27, which gained 0.2 pp.GOVERNMENT DEBTOFZ yields declined 3-4 bps along the curve thanks to a recovery in risk appetite. Volumes came in at R42 bln.STORIES> Monthly statistics for April show improvement only in industrial output> CBR releases banking sector data for April> Lukoil likely to post strong 1Q19 results, in line with peers> Statements by Kolomoysky set to increase volatility in Ukrainian debt> Fitch affirms Armenia's sovereign rating at B+

27/05/2019 41 EN

Underlyings

Lukoil

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Oil company LUKOIL PJSC

PJSC Lukoil is a vertically-integrated oil company engaged in the exploration and production of crude oil and natural gas. Co. is engaged in all main sectors of the modern oil business including supplies, refining, marketing, transportation, petrochemicals and oil-related activities. Co.'s operations are divided into five business segments: Exploration and Production; Refining, Marketing and Distribution; Chemicals; Power Generation and Other Business Segments. Co. owns and operates refineries in Bulgaria (LUKOIL Neftochim Bourgas AD) and Romania (Petrotel-LUKOIL).

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RU0009024277 Moscow Exchange MICEX-RTS Russia

Provider

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.

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Analysts

Alexander Golinsky

Alisa Zakirova

Andrew Keeley

Andrey Kuznetsov

Andrey Gromadin

Anna Kotelnikova

Anton Stroutchenevski

Artem Vinogradov

Kirill Rogachev

Rodion Lomivorotov

Other Reports on these Companies

Raiffeisen Bank International AG - Institutional Equity

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Raiffeisen Bank International AG - Institutional Equity

Raiffeisen Research Institutional Equity Daily 29.04.2022

 AT: AMAG - Q1 results in line with RBIe but above consensus, major cash drain from NWC, FY 22 EBITDA guidance of > EUR 200 mn heralds (expected) upside to estimates (neutral)  AT: Andritz - Record order backlog, in-line results and guidance confirmed (positive)  AT: Erste Group - Q1 22 net profit beating expectations / strong core revenues offset by higher opex and weak trading result / guidance for 2022 marginally tweaked upwards / CET1 drop should be only temporary (positive)  AT: Oesterreichische Post - Weak preliminary Q1, guidance likely triggers forecast cuts (negative)  AT: OMV -...

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TheScreener

An unfavourable environment weighs on PJSC LUKOIL 144A ADR, which sees a downgrade to Slightly Negative

The independent financial analyst theScreener just requalified the general evaluation of PJSC LUKOIL 144A ADR (RU), active in the Integrated Oil & Gas industry. As regards its fundamental valuation, the title still shows 0 out of 4 stars and its market behaviour is seen as moderately risky. theScreener believes that the unfavourable environment weighs on the sector and penalises the company, which sees a downgrade to its general evaluation to Slightly Negative. As of the analysis date March 15, 2022, the closing price was USD 46.40 and its target price was estimated at USD 42.96.

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March 16, 2022 March 16, 2022 1 EN

Russian Consumer - Unemployment and Income: The Outlook for 2022

In its modern history, Russia has not suffered any major spikes in joblessness. Its unemployment rate has ranged from between 4.8% and 8.3% since 2005 (versus 3.6-9.9% in the US for the same period). However, considering the sectors currently affected and companies scaling down operations in Russia, we see 1.1 mln out of the total 71 mln jobs at risk. But because this comes amid a labor shortage, which emerged in late 2021, companies are aiming to hold on to personnel, while the government is announcing extra social support measures. In a conservative scenario, the unemployment rate could go u...

March 24, 2022 March 24, 2022 1 EN

Andrew Keeley ... (+3)

Andrew Keeley
Arthur Cherkesov
Ekaterina Sidorova

Russian Banks - What We Know at This Stage

In this note, we sum up a few thoughts on the current situation for Russia's banks.> Immediate pressure weathered... Since the initial brief depositor panic in late February, deposit flows have stabilized and even turned into net inflows as banks have hiked short-term deposit rates to around 20%, in line with the key rate.> ... and the CBR has experience of crises. The CBR is well versed in supporting the banking system through crises and has already made important moves in providing liquidity and capital forbearance. The banking sector recapitalization that we saw in 2008-09 and 2014-15 is no...

March 24, 2022 March 24, 2022 1 EN

Anton Stroutchenevski ... (+6)

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CIS Market Daily - March 24, 2022

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March 24, 2022 March 24, 2022 1 EN

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Debt Markets Today - May 27, 2019

Raiffeisen Research Institutional Equity Daily 17.05.2022

Raiffeisen Research Institutional Equity Daily 29.04.2022

An unfavourable environment weighs on PJSC LUKOIL 144A ADR, which sees a downgrade to Slightly Negative

Russian Consumer - Unemployment and Income: The Outlook for 2022

Russian Banks - What We Know at This Stage

CIS Market Daily - March 24, 2022

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