reports
- Gerben Hieminga
- Nadège Tillier
Energy price caps are appealing, but are not without risks
In this article our power market experts Gerben Hieminga and Nadège Tillier discuss the energy price cap recently proposed by the European Commission and detail the 10 things they will be monitoring closely in the run-up to, and after, the introduction of the cap
Raiffeisen Research Institutional Equity Daily 17.06.2022
ATX indices review - FFF and NoS changes in IMMOFINANZ and Marinomed Biotech CECE index review - FFF and NoS changes in Allegro, Colt and MOL FTSE Index June review - No changes of index constituents in our Coverage Universe STOXX Europe 600 Index review - No changes of index constituents in our Coverage Universe WIG20/WIG30 indices review - No change in constituents AT: Erste Group - Willibald Cernko appointed as CEO until end 2024 (neutral) AT: Vienna Insurance Group - Results of...
- Research Team
The Rear-View Mirror – EME markets: Hungarian equities down 13.6% in M...
EME Equity Market – May 2022 Market performance – markets down mostly, as MSCI EM Europe Index declines 3.6%. The MSCI EM Europe Index fell 3.6% mom and 2.0% mom in EUR and USD terms, respectively, in May. The best-performing index was the Russian MOEX, which added 6.3% mom in EUR terms, but declined 3.7% mom in local currency. However, we note that, with the CBR ban on short selling and restrictions on international investors, as well various sanctions, this performance is not fully comparable ...
EUROB EUROBANK ERGASIAS SERVICES & HOLDINGS SA
GARAN TURKIYE GARANTI BANKASI ANONIM SIRKETI
OPAP GREEK ORGANISATION OF FOOTBALL PROGNOSTICS SA
EXAE HELLENIC EXCHANGES SA
MOL MOL NYRT
CEZ CEZ AS
PETG PETROL D.D.
ACP ASSECO POLAND SA
HTO HELLENIC TELECOMMUNICATIONS ORGANIZATION SA
CDR CD PROJEKT S.A.
RBI RAIFFEISEN BANK INTERNATIONAL AG
YKBNK YAPI VE KREDI BANKASI A.S.
PGN POLSKIE GORNICTWO NAFTOWE I GAZOWNICTWO SA
COG COGNOR HOLDING SA
PKO PKO BANK POLSKI S.A.
ISCTR TURKIYE IS BANKASI ANONIM SIRKETI CLASS C
KOMB KOMERCNI BANKA A.S.
TITK TITAN CEMENT CO. SA
BHW BANK HANDLOWY W WARSZAWIE S.A.
BIMAS BIM BIRLESIK MAGAZALAR A.S.
PZU POWSZECHNY ZAKLAD UBEZPIECZEN SPOLKA AKCYJNA
DOAS DOGUS OTOMOTIV SERVIS VE TICARET A.S.
BSK ING BANK SLASKI S.A.
MTELEKOM MAGYAR TELEKOM TELECOMMUNICATIONS
KTY GRUPA KETY SA
TPS ORANGE POLSKA S.A.
CAI CA IMMOBILIEN ANLAGEN AG
MYTIL MYTILINEOS S.A.
LPP LPP S.A.
SPI S IMMO AG
AEFES ANADOLU EFES BIRACILIK VE MALT SANAYII A.S.
BRISA BRISA-BRIDGESTONE SABANCI LASTIK SANAYI VE TICARET A.S.
LOGO LOGO YAZILIM SANAYI VE TICARET A.S.
CCC CCC SA
CCOLA COCA-COLA ICECEK A.S.
CIE CIECH S.A.
GTC GLOBE TRADE CENTRE S.A.
EEG1T EKSPRESS GRUPP A.S.
AEGN AEGEAN AIRLINES SA
TENERGY TERNA ENERGY S.A.
AUG1L AGROWILL GROUP AB
ENA ENEA S.A.
BFT BENEFIT SYSTEMS S.A. ALLOTMENT
MGROS MIGROS TICARET A.S
PGE PGE POLSKA GRUPA ENERGETYCZNA S.A.
AFLT AEROFLOT RUSSIAN AIRLINES
LVC LIVECHAT SOFTWARE SA
TBCB TBC BANK JOINT STOCK CO
PPC PUBLIC POWER CORPORATION S.A.
OTP OTP BANK NYRT
CAR INTER CARS S.A.
ARCLK ARCELIK A.S.
AYGAZ AYGAZ A.S.
FROTO FORD OTOMOTIV SANAYI A.S.
SISE TURKIYE SISE VE CAM FABRIKALARI A.S.
ULKER ULKER BISKUVI SANAYI A.S.
EUR EUROCASH S.A.
ECH ECHO INVESTMENT
FMF FAMUR SA
GSPARK GRAPHISOFT PARK SE
CPS CYFROWY POLSAT SA
POSR POZAVAROVALNICA SAVA
GPW WARSAW STOCK EXCHANGE
TPE TAURON POLSKA ENERGIA S.A.
DAT DATAWALK SA
OTOEL AUTOHELLAS S.A.
BANK OF CYPRUS PCL
WPL WIRTUALNA POLSKA HOLDING SA
SKK SIRMA GROUP HOLDING JSC
ROSN ROSNEFT OIL CO. SPONSORED GDR REGS
BRD BRD-GROUPE SOCIETE GENERALE
TLV BANCA TRANSILVANIA S.A.
KMB KOMERCIJALNA BANKA AD SKOPJE
TRP TERAPLAST
MONET MONETA MONEY BANK AS
SNG SOCIETATEA NATIONALA DE GAZE NATURALE ROMGAZ SA
H4L1 HALYK SAVINGS BANK OF KAZAKHSTAN GDR
BNET BITTNET SYSTEMS
SNP PETROM S.A.
PBK PATRIA BANK SA
TOFAS TOFAS TURK OTOMOBIL FABRIKASI A.S.
HMX1R HANSAMATRIX AS
LKODN OIL COMPANY LUKOIL PJSC SPONSORED ADR
OGZD GAZPROM (GDR)
DIGI DIGI COMMUNICATIONS NV
DNP DINO POLSKA S.A.
COTE CONPET SA
NBGGY NATIONAL BANK OF GREECE S.A. ADS
SNN SOCIETATEA NATIONALA NUCLEARELECTRICA SA
TEL C.N.T.E.E. TRANSELECTRICA
ELSA SOCIETATEA ENERGETICA ELECTRICA
FP. FONDUL PROPRIETATEA S.A. GDR (REG S)
BVB S.C. BURSA DE VALORI BUCURESTI S.A.
GEB BANK OF GEORGIA
TGN SOCIETATEA NATIONALA DE TRANSPORT GAZE NATURALE TRANSGAZ S.A.
A4L ALLTERCO AD
19XX NEPI ROCKCASTLE PLC
ALPHA ALPHA BANK
ATAD TATNEFT (GDR)
M MED LIFE
ELPE HELLENIC PETROLEUM
CGEO GEORGIA CAPITAL
IIA IMMOFINANZ AG
SOKM SOK MARKETLER TICARET AS
EAT AMREST HOLDINGS SE
ZB-R-A ZAGREBACKA BURZA DD
SF3 STS GROUP AG
KAP NATIONAL ATOMIC COMPANY KAZATOMPROM
TEN TEN SQUARE GAMES
ADKO ADDIKO BANK
GR6 GRADUS
PEN PHOTON ENERGY NV
KOFOL KOFOLA CESKOSLOVENSKO A.S.
ALG ALLEGRO.EU SA
CZG CESKA ZBROJOVKA GROUP
INPST INPOST S.A.
PCF PCF GROUP SA
HUGE HUUUGE
ALR ALRO SLATINA
WINE PURCARI WINERIES PCL
4IG 4IG NYRT
IGN1L IGNITIS GRUPE
SHO SHOPER
KCEL KCELL JSC
ONE ONE UNITED PROPERTIES SA
Raiffeisen Research Institutional Equity Daily 17.05.2022
AT: AT&S - Prelim. Q4 21/22 above expectations, FY outlook better on top line, EBITDA guidance mixed on start-up costs (neutral) AT: S IMMO - Considers sale of Germany residential assets (neutral) AT: Vienna Insurance Group - Strong premium growth, EBT below expectations on provisions for impact of war (neutral) PL: CCC - CEO expects a good Q2 with substantial sales growth and slight gross margin improvement, FY sales seen at PLN 9-10 bn (positive) PL: PGNiG - Considering entering into a long-te...
- Research Team
WOOD Daily: BGEO LN; TBCG LN; BHW PW; CCOLA TI; TLV RO; AYGAZ TI; MOH ...
HEADLINES: • Georgian banks: game on - banks are cheap (Bank of Georgia upgraded to BUY, TBC Bank Group stays BUY) • Bank Handlowy: posts huge turnaround in profitability in 1Q22 POSITIVE • Coca-Cola Icecek: 1Q22 - better than expected results POSITIVE • Banca Transilvania: 1Q22 results solid and on track to meet FY22E budget • Aygaz: 1Q22 results review - 44% NI beat, driven by Entek and Tupras • Motor Oil Hellas: deal with Ellaktor - strong expansion into RES • Public Power Corporation: i...
DOAS DOGUS OTOMOTIV SERVIS VE TICARET A.S.
MTELEKOM MAGYAR TELEKOM TELECOMMUNICATIONS
MYTIL MYTILINEOS S.A.
CCOLA COCA-COLA ICECEK A.S.
AFLT AEROFLOT RUSSIAN AIRLINES
TBCB TBC BANK JOINT STOCK CO
PPC PUBLIC POWER CORPORATION S.A.
AYGAZ AYGAZ A.S.
FROTO FORD OTOMOTIV SANAYI A.S.
OTOEL AUTOHELLAS S.A.
TLV BANCA TRANSILVANIA S.A.
TOFAS TOFAS TURK OTOMOBIL FABRIKASI A.S.
GEB BANK OF GEORGIA
Raiffeisen Research Institutional Equity Daily 29.04.2022
AT: AMAG - Q1 results in line with RBIe but above consensus, major cash drain from NWC, FY 22 EBITDA guidance of > EUR 200 mn heralds (expected) upside to estimates (neutral) AT: Andritz - Record order backlog, in-line results and guidance confirmed (positive) AT: Erste Group - Q1 22 net profit beating expectations / strong core revenues offset by higher opex and weak trading result / guidance for 2022 marginally tweaked upwards / CET1 drop should be only temporary (positive) AT: Oester...
OMV OMV AG
PAL PALFINGER AG
SEM SEMPERIT HOLDING AG
LKOH OIL COMPANY LUKOIL PJSC
POST OSTERREICHISCHE POST AG
ANDR ANDRITZ AG
STR STRABAG SE
SIBN GAZPROM NEFT PJSC
ROSN ROSNEFT OIL CO.
SNGS SURGUTNEFTEGAS PJSC
TCS TCS GROUP HOLDING PLC SPONSORED GDR CLASS A REGS
HT-R-A HRVATSKI TELEKOM DD
BRD BRD-GROUPE SOCIETE GENERALE
TLV BANCA TRANSILVANIA S.A.
ENRU ENEL RUSSIA
SNG SOCIETATEA NATIONALA DE GAZE NATURALE ROMGAZ SA
ATGR-R-A ATLANTIC GRUPA
SNP PETROM S.A.
COTE CONPET SA
TGN SOCIETATEA NATIONALA DE TRANSPORT GAZE NATURALE TRANSGAZ S.A.
AMAG AMAG AUSTRIA METALL AG
SFG SPHERA FRANCHISE GROUP SA
ADRS2-R-A ADRIS GRUPA D.D. PFD.
ERNT-R-A ERICSSON NIKOLA TESLA D.D.
WINE PURCARI WINERIES PCL
- Cole Akeson
- Dmitry Troshin
- Georgiy Ivanin
- Research Team
CIS Market Daily - March 23, 2022
MARKET COMMENT - RSPP PROPOSES STRIPPING MINORITY RIGHTS, EU AND US OFFICIALS CONSIDER MORE SANCTIONS AND EXPELLING RUSSIA FROM THE G20The Russian Union of Industrialists and Entrepreneurs proposed to the government to strip nonresident minority shareholders of their shareholder rights on a temporary basis, according to RBC and other sources. Top EU and US officials remarked that more sanctions would be considered Thursday. Equity trading remains suspended in Russia. STORIES> RSPP proposes to st...
- Anton Chernyshev
- Cole Akeson
- Dmitry Troshin
- Georgiy Ivanin
- Research Team
CIS Market Daily - 23 марта 2022
КОММЕНТАРИЙ И ПРОГНОЗ - РСПП ПРЕДЛАГАЕТ ВРЕМЕННО ОГРАНИЧИТЬ В ПРАВАХ ИНОСТРАННЫХ МИНОРИТАРИЕВ, ЕС И США РАССМАТРИВАЮТ ВОЗМОЖНОСТЬ ВВЕДЕНИЯ НОВЫХ САНКЦИЙРоссийский союз промышленников и предпринимателей предложил правительству временно ограничить в правах иностранных миноритариев, сообщают РБК и другие источники. ЕС и США рассмотрят в четверг возможность введения новых санкций. Торги акциями на МосБирже по-прежнему не проводятся. НОВОСТИ> Цены на нефть после ралли начали стабилизироваться в предд...
Raiffeisen Research Institutional Equity Daily 22.03.2022
AT: Palfinger - Yet another profit warning (negative) HU: Magyar Telekom - Magyar Telekom shareholder proposes a dividend of HUF 25 bn (neutral) HU: OTP Bank - Proposal for a catch-up DPS of HUF 426 from 2019/20 earnings and a symbolic DPS of HUF 3.3 from 2021 (negative) PL: CD Projekt - Company stated it is working on the next installment of the Witcher series, which will run on the Unreal 5 engine (positive) RO: Conpet - Board proposed 2021 DPS of RON 7.28, DY 9.6% (positive) RO: ...
- Andrey Gromadin
- Anton Stroutchenevski
- Artem Vinogradov
- Cole Akeson
- Dmitry Troshin
- Georgiy Ivanin
- Konstantin Samarin
- Research Team
CIS Market Daily - March 22, 2022
MARKET COMMENT - EQUITIES STILL SUSPENDED WHILE OIL, WHEAT SURGE ON LACK OF POSITIVE HEADLINES REGARDING THE CONFLICTMoscow equity trading continues into its unprecedented fourth week of suspension. Polymetal and VEON gained 2-3%, while other FSU stocks were mixed. The ruble weakened 2% offshore to reach nearly USD/RUB 107, while in Moscow it gained 0.8% to mark USD/RUB 104. OFZ (local ruble sovereign) bonds will trade for a second day.STORIES> Russian gas reaches record 15% of Chinese imports i...
- Andrey Gromadin
- Anton Chernyshev
- Anton Stroutchenevski
- Artem Vinogradov
- Cole Akeson
- Dmitry Troshin
- Georgiy Ivanin
- Konstantin Samarin
- Research Team
CIS Market Daily - 22 марта 2022
КОММЕНТАРИЙ И ПРОГНОЗ - ЦЕНЫ НА НЕФТЬ И ПШЕНИЦУ ВЫРОСЛИ В ОТСУТСТВИЕ ХОРОШИХ НОВОСТЕЙТорги акциями не проводятся на Московской бирже четвертую неделю подряд. На зарубежных площадках Polymetal и VEON прибавили вчера в цене 2-3%, динамика акций других компаний из стран СНГ была смешанной. Рубль на внешнем рынке ослаб на 2% до примерно 107 руб. за доллар, а в Москве укрепился на 0,8% и достиг отметки 104. Сегодня состоится второй после перерыва день торгов ОФЗ. НОВОСТИ> Цены на нефть растут на фоне...
Raiffeisen Research Institutional Equity Daily 17.03.2022
AT: Erste Group - Erste presents some insights into the exposure towards Russia, Ukraine and Belarus (neutral) AT: OMV - Key takeaways from OMV Strategy 2030 presentation (neutral) AT: SBO - Final results in line with preliminaries, 2021 DPS proposal of EUR 0.75 beats our expectations, higher E&P spending in 2022 to support demand for SBO's equipment and services (neutral) AT: Verbund - Q4 EBITDA about in line, net better on one-offs; FY 22 guidance wide as a barn door, upper end signals...
- Anton Stroutchenevski
- Artem Vinogradov
- Cole Akeson
- Dmitry Troshin
- Georgiy Ivanin
- Igor Rapokhin
- Research Team
CIS Market Daily - March 17, 2022
MARKET COMMENT - GLOBAL MARKETS SURGE WHILE RUSSIA SUSPENDED, RUBLE STILL DOWN 28% M-O-MRussian equities remain suspended at least through the end of this week, the third full week of suspension. Polymetal climbed 14%, offshore ruble quotes gained 8% to USD/RUB 98 and Moscow quotes 2% to USD/RUB 108.STORIES> Russian weekly inflation still very high at 2.1% last week> CBR Preview: CBR may take pause in rate hikes> Enel Russia 2021 IFRS results review: Dividend payments in 2022 canceled> Energy Mi...
- Anton Chernyshev
- Anton Stroutchenevski
- Artem Vinogradov
- Cole Akeson
- Dmitry Troshin
- Georgiy Ivanin
- Igor Rapokhin
- Research Team
CIS Market Daily - 17 марта 2022
КОММЕНТАРИЙ И ПРОГНОЗ - МИРОВЫЕ РЫНКИ ВЫРОСЛИ, РОССИЙСКИЙ РЫНОК ПО-ПРЕЖНЕМУ ЗАКРЫТ, РУБЛЬ ВСЕ ЕЩЕ НА 28% СЛАБЕЕ, ЧЕМ В ФЕВРАЛЕРоссийский рынок акций закрыт по меньшей мере до конца недели, то есть уже третью неделю подряд. Котировки Polymetal выросли на 14%, рубль на внешнем рынке укрепился на 8% до 98 за доллар, а на внутреннем - прибавил 2% до 108 за доллар. НОВОСТИ> За неделю цены в РФ выросли на 2,1%> Прогноз итогов заседания ЦБ РФ: ЦБ может взять паузу в повышении ставки> Цены на нефть стаб...
An unfavourable environment weighs on PJSC LUKOIL 144A ADR, which sees...
The independent financial analyst theScreener just requalified the general evaluation of PJSC LUKOIL 144A ADR (RU), active in the Integrated Oil & Gas industry. As regards its fundamental valuation, the title still shows 0 out of 4 stars and its market behaviour is seen as moderately risky. theScreener believes that the unfavourable environment weighs on the sector and penalises the company, which sees a downgrade to its general evaluation to Slightly Negative. As of the analysis date March 15, ...
- Andrew Keeley
- Andrey Gromadin
- Anton Stroutchenevski
- Artem Vinogradov
- Arthur Cherkesov
- Cole Akeson
- Dmitry Troshin
- Georgiy Ivanin
- Konstantin Samarin
- Research Team
CIS Market Daily - March 3, 2022
MARKET COMMENT - GOVERNMENT MULLS BUYING MORE STOCK, MSCI EXPELS RUSSIARussian stocks remained frozen in Moscow and were mostly frozen abroad as well yesterday. The government is mulling tapping more of the NWF to buy Russian stocks. MSCI will expel Russia from global benchmarks, and ratings agencies have cut the market to junk status.STORIES> MSCI expels Russia from global and emerging benchmarks> GDP could decline by 10-15% in 2022> Weekly inflation surges to 0.45% over February 19-25> Basic s...
- Alisa Zakirova
- Anton Stroutchenevski
- Artem Vinogradov
- Ekaterina Sidorova
- Igor Rapokhin
- Olga Sterina
- Research Team
- Rodion Lomivorotov
Долговые рынки сегодня - 3 марта 2022. АЛРОСА И Лукойл опубликовали от...
РЫНОК ВНЕШНЕГО ДОЛГА СТРАН СНГВчера ликвидность на рынке российских суверенных еврооблигаций оставалась низкой, котировки практически не изменились. ГОСУДАРСТВЕННЫЕ ЦЕННЫЕ БУМАГИНа рынке ОФЗ торги сегодня проводиться не будут.НОВОСТИ> За период с 19 по 25 февраля недельная инфляция в России достигла 0,45%> Выпуск в базовых отраслях России в январе вырос> АЛРОСА представила финансовые показатели за 4К21 и 2021> ЛУКОЙЛ: сильные финансовые результаты за 4К21
- Alisa Zakirova
- Anton Stroutchenevski
- Artem Vinogradov
- Ekaterina Sidorova
- Igor Rapokhin
- Olga Sterina
- Research Team
- Rodion Lomivorotov
Debt Markets Today - March 3, 2022. GDP Outlook for 2022, January Basi...
CIS EUROBOND MARKETThe Russian sovereign Eurobond market remains illiquid and prices have been flat. GOVERNMENT DEBTTrading in OFZs remains suspended.STORIES> Basic sector output rises in January, but will decline over the rest of the year> Weekly inflation surges to 0.45% over February 19-25> GDP could decline by 10-15% in 2022> Alrosa posts 4Q21 and 2021 IFRS results> Lukoil 4Q21 review: Strong financial update
- Andrew Keeley
- Andrey Gromadin
- Anton Chernyshev
- Anton Stroutchenevski
- Artem Vinogradov
- Arthur Cherkesov
- Cole Akeson
- Dmitry Troshin
- Georgiy Ivanin
- Konstantin Samarin
- Research Team
CIS Market Daily - 3 марта 2022
КОММЕНТАРИЙ И ПРОГНОЗПроизводство в базовых отраслях российской экономики выросло в январе на 1% по сравнению с предыдущим месяцем (с учетом корректировки на сезонную составляющую) после роста на 0,6% в декабре. Динамика улучшилась благодаря оптовой торговли и грузообороту транспорта. В период с 19 по 25 февраля потребительские цены в России выросли на 0,45% против 0,24% неделей ранее. Причинами, судя по всему, стали повышение спроса на непродовольственные товары, а также ослабление рубля, котор...
FSK YEES sees a downgrade to Slightly Negative on account of less fund...
The independent financial analyst theScreener just lowered the general evaluation of FSK YEES (RU), active in the Conventional Electricity industry. As regards its fundamental valuation, the title now shows 0 out of 4 stars while market behaviour can be considered moderately risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date March 1, 2022, the closing price was USD 0.00...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.