Report
Alex Fak ...
  • Alexander Kudrin
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Cole Akeson
  • Irina Lapshina
  • Maria Sukhanova
  • Rodion Lomivorotov
  • Sergei Konygin
  • Svetlana Sukhanova
  • Tom Levinson
  • Valery Nesterov

CIS Market Daily - March 22, 2018

MARKET COMMENT - DOLLAR'S DROP ON DOVISH FED GUIDANCE SPURS OIL AND RUBLE HIGHER
Climbing oil prices and a weakening dollar helped the RTS rise 1.1% yesterday, with Russia near the top of an overall flat EM group. Fed guidance for 2018 coming in on the dovish side sent the dollar lower last night, causing bullish ripple effects for dollar pricing of Russian stocks and related asset classes. Amid an otherwise positive backdrop, the EU summit and a potential US tariff decision present potential political risks today.

STORIES
> February data shows some slowdown but improvement likely ahead
> Russian inflation remains at 0.1% over the week ending March 19
> Georgian GDP expands 5% in 2017
> Federal Reserve Review: 25 bp hike, cautious confidence
> Lukoil generates more than $4 bln in FCF in 2017
> Novatek project may suffer from bill requiring use of domestic tankers
> Rostelecom strategy update: Ambitions have yet to materialize
> PhosAgro 4Q17 IFRS results: Capex, WC buildup squeeze cash flows
Underlyings
NOVATEK JSC

Novatek is an independent gas producer and natural gas producer in Russia. Co. is engaged in the exploration, production, and processing of natural gas and liquid hydrocarbons. Co.'s upstream activities are concentrated in the Yamal-Nenets region, which is a natural gas producing area and accounts for a significant part of Russia's natural gas production. Co.'s three core fields are located in the regions of Yurkharovskoye, East Tarkosalinskoye and Khancheyskoye. Co. maintains natural gas reserves of approximately 1,144 bcm. Co.'s total net proved reserves totals around 8,088 million barrels of oil equivalent (boe).

NOVATEK JSC Sponsored GDR RegS

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).

PhosAgro PJSC Sponsored GDR RegS

Rostelecom (PREF A)

Rostelecom PJSC

Rostelecom PJSC provides communication services (including local, intra-zone, long-distance domestic and international fixed-line telephone services, mobile services), data transmission, Internet, Pay TV, VPN and data centers services, rent of communication channels and radio communication services in the territory of Russian Federation. Co. operates the main intercity network and the international telecommunications gateways of the Russian Federation, carrying voice and data traffic that originates in its own network and other national and international operators' networks to other national and international operators for termination.

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
Alex Fak

Alexander Kudrin

Anton Stroutchenevski

Artem Vinogradov

Cole Akeson

Irina Lapshina

Maria Sukhanova

Rodion Lomivorotov

Sergei Konygin

Svetlana Sukhanova

Tom Levinson

Valery Nesterov

Other Reports on these Companies
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