Sberbank - Rosseti (MRKH) ... CIS Market Daily - 24 января 2022

Report

Sberbank

Anton Chernyshev ...

Cole Akeson
Dmitry Troshin
Ekaterina Usanova
Georgiy Ivanin
Mikhail Krasnoperov
Research Team

CIS Market Daily - 24 января 2022

КОММЕНТАРИЙ И ПРОГНОЗ - ГЛОБАЛЬНЫЕ РЫНКИ ПОД ДАВЛЕНИЕМ ИЗ-ЗА ПОВЫШЕНИЯ СТАВОК И СЛАБОЙ ОТЧЕТНОСТИ КОМПАНИЙ, РОССИЙСКИЙ - ИЗ-ЗА ГЕОПОЛИТИКИГлобальные рынки в пятницу были под давлением: индекс MSCI ACWI снизился на 1,7%, наибольшие потери понесли акции быстрорастущих компаний (growth stocks). Инвесторов беспокоит перспектива повышения ставок и высокая инфляция. Кроме того, настрой ухудшился после публикации более слабых, чем ожидалось, финансовых результатов компаний в США. Индекс РТС в пятницу снизился на 3,4% до 1 402 пунктов, Россия оказалась аутсайдером среди ликвидных развивающихся рынков. На этой неделе в центре внимания инвесторов на российском рынке, по-видимому, снова будут новости о международных отношениях. Для мировых рынков главным событием станет решение ФРС США в среду.
НОВОСТИ> Цены на нефть восстановились перед выходом предварительных индексов PMI за январь> Годовой рост выручки X5 Group в 4К21 ускорился до 14,9%> Правительство одобрило включение дивидендной составляющей в тарифы "дочек" Россетей

24/01/2022 1 RU

Underlyings

Rosseti

PJSC Rosseti is a holding company based in Russia. Co. is engaged in the management of companies that operate in the energy sector. Co.'s core business is the management of electric grid subsidiaries for the purpose of pursuing a common policy in the field of electric grid services, specifically in the area of innovations, energy conservation and energy efficiency, development and implementation of a common strategy for developing the distribution electric grid sector of the Russian Federation. Co.'s other services comprise property management, consulting, securities operations, scientific research and construction and transport and expedition.

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RU000A0JPVJ0 Moscow Exchange MICEX-RTS Russia

Rosseti

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RU000A0JPVK8 Moscow Exchange MICEX-RTS Russia

X5 Retail Group N.V. Sponsored GDR RegS

X5 Retail Group is a holding company. The main activity of Co. is the development and operation of grocery retail stores. Co. operates a retail chain of soft-discount, supermarket and hypermarket stores under the brand names "Pyaterochka", "Perekrestok" and "Karusel" in major population centres in Russia, including but not limited to Moscow, St. Petersburg, Nizhniy Novgorod, Rostov-on-Don, Kazan, Samara, Lipetsk, Chelyabinsk, Perm, Ekaterinburg and Kiev, Ukraine.

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US98387E2054 Germany

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

Anton Chernyshev

Cole Akeson

Dmitry Troshin

Ekaterina Usanova

Georgiy Ivanin

Mikhail Krasnoperov

Research Team

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A director at X5 Retail Group N.V. sold 20,000 shares at 21.000USD and the significance rating of the trade was 86/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of...

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Sberbank

CIS Market Daily - March 18, 2022

MARKET COMMENT - SOME BOND HOLDERS RECEIVE COUPONS WHILE EQUITIES STILL FROZEN, CAPITAL CONTROLS IN PLACEThe ruble gained 4.5% in Moscow Exchange trading and fell 4.9% in offshore trading to be quoted around USD/RUB 102-103, reaching the narrowest spread in weeks. Reuters reported that some bond holders had successfully received dollar coupon payments that were due on Russian sovereigns. STORIES> Russia's budget surplus reaches R156 bln in February> X5 Group's 4Q21 EBITDA 7% above our estimate

March 18, 2022 March 18, 2022 1 EN

Sberbank

CIS Market Daily - 18 марта 2022

КОММЕНТАРИЙ И ПРОГНОЗ - ДЕРЖАТЕЛИ ЕВРООБЛИГАЦИЙ РФ ПОЛУЧИЛИ КУПОННЫЕ ВЫПЛАТЫ, РОССИЙСКИЕ АКЦИИ ПО-ПРЕЖНЕМУ ЗАМОРОЖЕНЫ ДЛЯ НЕРЕЗИДЕНТОВ ИЗ-ЗА ОГРАНИЧЕНИЙ НА ВЫВОЗ КАПИТАЛАРубль вчера укрепился на 4,5% на Московской бирже, но на внешнем рынке просел на 4,9% до 102-103 руб. за доллар, и разница между курсами на внешнем и внутреннем рынках стала наименьшей за последние недели. Агентство Reuters сообщило, что держатели российских суверенных еврооблигаций благополучно получили купонные платежи в долларах. НОВОСТИ> Профицит бюджета РФ в феврале достиг 156 млрд руб.> Нефть подорожала на фоне неопредел...

March 18, 2022 March 18, 2022 1 RU

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
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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
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Dmitry Troshin
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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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CIS Market Daily - 24 января 2022

X5 Retail Group N.V.: 1 director

CIS Market Daily - March 18, 2022

CIS Market Daily - 18 марта 2022

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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