Report
Alexey Kirichok ...
  • Andrey Kuznetsov
  • Cole Akeson
  • Irina Lapshina
  • Nikolay Minko
  • Svetlana Sukhanova

CIS Market Daily - July 29, 2019

MARKET COMMENT - US SENATE, BREXIT, YANDEX, PROTESTS, US-CHINA IN HEADLINES SINCE FRIDAYThe MSCI EM fell 0.5% on Friday, while the RTS edged up 0.1% to 1,348. Ample headlines appeared Friday and over the weekend, including the CBR's rate cut, a US Senate investigation discussing Russia, more threats of a no-deal Brexit, resumption of face-to-face US/China negotiations, and protests in Hong Kong and Moscow. The Fed decision Wednesday night is the clear macro focus for global markets this week.STORIES> CBR review: Another 25 bp cut, a third likely in September> Rusal: 2Q19 trading update strong on volumes; product mix better> NLMK: 2Q19 IFRS results in line, capex guidance slightly lowered> Yandex: Strong beat, breakeven on taxi
Underlyings
NLMK (GDR)

Novolipetsk Steel

Novolipetsk Steel is a vertically integrated steel manufacturing and production group based in Russia. Co. specializes in the manufacturing of high-quality hot and cold rolled steel in a variety of grades and sizes. Co. is also engaged in production and sales of flat steel products including slabs, hot rolled and cold rolled sheet, electrical steel, galvanized steel, cold rolled sheet with polymeric coatings. In addition, Co.'s areas of manufacturing include sintering, coke production, blast furnace production, steel-making, hot and cold-rolled flat steel production, galvanized and prepainted steel production. Co. exports its products to 70 countries around the world.

United Company RUSAL international PJSC

United Company Rusal is a producer of aluminium and alloys. Co.'s production chain include bauxite and nepheline ore mines, alumina refineries, aluminium smelters and casting houses, foil mills and packaging production centres. Co. operates in four reportable segments: Aluminium, which is involved in the production and sale of primary aluminium; Alumina, which involved in the mining and refining of bauxite into alumina and the sale of alumina; Energy, which include the mining and sale of coal and the generation and transmission of electricity; Mining and Metals, which includes the equity investment in Co.'s joint venture, PJSC MMC Norilsk Nickel.

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
Alexey Kirichok

Andrey Kuznetsov

Cole Akeson

Irina Lapshina

Nikolay Minko

Svetlana Sukhanova

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