CIS Market Daily - February 10, 2020

MARKET COMMENT - CENTRAL BANKS, OIL AND POLITICS DOMINATE THE WEEK'S AGENDAMarkets continued to soften throughout the day on Friday, the MSCI ACWI global index declining 0.5%. Russia was among the weaker performers in emerging markets, the RTS falling 1.4% to 1,518 in moves that largely reflected the ruble. Wuhan virus concerns continue to predominate in global markets, while this week is light on macro data releases but heavy on political events, remarks from central bankers and oil reports, as detailed below. STORIES> Russia's investor base: The locals are coming> Russian basic sector output...

LUXOFT HOLDING INCO. reduced its risk exposure resulting in an upgrade to Slightly Positive

LUXOFT HOLDING INCO. (US), a company active in the Software industry, reduced its market risk and raised its general evaluation. The independent financial analyst theScreener awarded an improved star rating to the company, which now shows 3 out of 4 possible stars; its market behaviour has improved and can be considered as defensive. theScreener believes that this new assessment merits an overall rating upgrade to Slightly Positive. As of the analysis date May 24, 2019, the closing price was USD 57.44 and its potential was estimated at USD 78.02.

Q1/CY19 "Beat"; FinTech/Insurance Offsetting Headwinds From European Banks

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...

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...

Сырьевые рынки - 24 марта 2022

> Нефть продолжала дорожать на фоне проблем на экспортном терминале КТК и данных EIA. На наш взгляд, сегодня цены Брент, скорее всего, начнут стабилизироваться около $120/барр. Инвесторы ждут саммита ЕС и НАТО в Брюсселе, на котором будет обсуждаться вопрос, как ослабить зависимость от российских энергоносителей.> Золото выросло в цене, а доходности гособлигаций США снизились. Вчера котировки золота выросли с $1 920 до $1 945 за унцию, а доходность 10-летних КО США опустилась с 2,39% до 2,29%. На момент написания этого комментария золото торговалось около $1 940 за унцию. Сегодня будут опублик...