CIS Market Daily - July 9, 2019
MARKET COMMENT - STOCK MARKETS IN CONSOLIDATION AFTER FRIDAY'S PAYROLL SURPRISEAfter Friday's payroll surprise, around three quarters of EMs saw declines yesterday, and both the MSCI Europe (-0.1%) and S&P 500 (-0.5%) were down. Markets appear to be caught in a holding pattern, looking for signals about what central banks will do next, beginning with Fed Chairman Jerome Powell's two days of testimony in Congress that starts tomorrow. Russia fared better than most yesterday, the RTS edged up 0.1% to just below 1,400 in price terms, and gaining 0.7% in total return as a number of stocks went ex-div. Consolidation continues on global markets this morning.STORIES> Chief Economist's View: Inflation in 2019 could be below 4%> VTB raises stake in PIK Group
Bank VTB PAO is a Russia-based bank engaged in the provision of financial services. The Bank reports five segments: Corporate-Investment banking includes operations with corporate customers that are large business customers and banking financial institutions, as well as operations on the securities market; Mid-Corporate banking covers operations with medium business corporate customers; Retail business includes operations with individuals and small business corporate customers, and offers operations on Internet and mobile Point-of-Sale acquiring, plastic cards, payroll services and financial consulting, among others; Treasury comprises operations to manage liquidity, operations on financial and interbank markets, cash flow management and debit financing operation; as well as Other business includes two business: Construction and development involves operations undertaken by Company in the construction and development industry, and Other activities represent non-banking business.
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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