Sberbank - Polymetal International Plc (POLY) Debt Markets Today - February 25, 2022. New Sanctions on Russian Banks and Companies, Metalloinvest Results, Closing Recommendations

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Sberbank

Alisa Zakirova ...

Andrew Keeley
Arthur Cherkesov
Ekaterina Sidorova
Igor Rapokhin
Olga Sterina
Research Team
Sergey Kolesnikov, FRM

Debt Markets Today - February 25, 2022. New Sanctions on Russian Banks and Companies, Metalloinvest Results, Closing Recommendations

CIS EUROBOND MARKETRussian President Vladimir Putin announced the start of a military operation in Ukraine yesterday morning. Against this backdrop, quotes on Russian sovereign Eurobonds halved, dropping 30-40 pp to 46-60%. Ukrainian sovereigns also fell 20-33 pp.GOVERNMENT DEBTOFZ yields jumped to 15-18% yesterday, the highest levels since 2014. Despite these very sharp moves, trading volumes on the Moscow Exchange totaled around R30 bln, in line with the one-month average.STORIES> Russian banks and companies hit by new sanctions> Metalloinvest publishes 2H21 and 2021 financial results> Closing Eurobond, ruble bond recommendations

25/02/2022 1 EN

Underlying

Polymetal International Plc

Polymetal International is the ultimate parent entity of Polymetal Group, a precious metals mining group operating in Russia, Kazakhstan and Armenia. Co. has five reportable segments: Magadan; Ural; Khabarovsk; Kazakhstan; and Armenia. Each segment is engaged in gold, silver or copper mining and related activities, including exploration, extraction, processing and reclamation.

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JE00B6T5S470 London Stock Exchange Jersey

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

Alisa Zakirova

Andrew Keeley

Arthur Cherkesov

Ekaterina Sidorova

Igor Rapokhin

Olga Sterina

Research Team

Sergey Kolesnikov, FRM

Other Reports on these Companies

EQS Group AG

Polymetal: Q3 2023 production results

Polymetal International plc (POLY) Polymetal: Q3 2023 production results 31-Oct-2023 / 07:31 MSK The issuer is solely responsible for the content of this announcement. Release time IMMEDIATE AIX, MOEX: POLY Date 31 October 2023 Polymetal International plc Q3 2023 production results Polymetal International plc reports production results for the third quarter ended September 30, 2023. “In Q3, we returned to positive cash flow generation after seasonal working ...

October 31, 2023 October 31, 2023 1 EN

EQS Group AG

Polymetal: Half-year report for the six month ended 30 June 2023

Polymetal International plc (POLY) Polymetal: Half-year report for the six month ended 30 June 2023 25-Sep-2023 / 07:55 MSK Release time IMMEDIATE AIX, MOEX: POLY Date 25 September 2023 Polymetal International plc Half-year report for the six month ended 30 June 2023 “Despite external pressures, we made good progress in the first half of the year while adapting to the logistics constraints. High commodity prices against a weakening Rouble, combined with stead...

September 25, 2023 September 25, 2023 1 EN

EQS Group AG

Polymetal: London De-listing

Polymetal International plc (POLY) Polymetal: London De-listing 29-Aug-2023 / 11:00 MSK Release time IMMEDIATE LSE, MOEX, AIX: POLY ADR: AUCOY Date 29 August 2023 Polymetal International plc London De-listing Polymetal announces that the London De-listing has completed. Further to the announcement made by the Company on 28 July 2023, the Company can confirm that it has cancelled its admission of the Company's Ordinary Shares from the Premium Equity Commercial Co...

August 29, 2023 August 29, 2023 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)

Anton Stroutchenevski
Artem Vinogradov
Cole Akeson
Dmitry Troshin
Georgiy Ivanin
Research Team

CIS Market Daily - March 24, 2022

MARKET COMMENT - TRADING TO RESUME FOR DOMESTIC INVESTORS AHEAD OF THE NATO-G7-DM SUMMIT AND NEW SANCTIONSEquity trading resumes today after a four-week suspension, but nonresidents and short-sellers will not yet be welcomed back. In focus will be the summit of NATO, the G7 and the rest of the developed world, which was called to discuss the evolving responses to Russia's so-called "special military operation" against Ukraine. STORIES> Equity trading to resume today - but not for nonresidents> "Unfriendly" countries to pay for Russian gas in rubles> Weekly inflation still elevated at 1.9%; inf...

March 24, 2022 March 24, 2022 1 EN

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Debt Markets Today - February 25, 2022. New Sanctions on Russian Banks and Companies, Metalloinvest Results, Closing Recommendations

Polymetal: Q3 2023 production results

Polymetal: Half-year report for the six month ended 30 June 2023

Polymetal: London De-listing

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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