reports
Raiffeisen Research Institutional Equity Daily 14.06.2022
AT: Flughafen Wien - Significant hike of FY 22 guidance (positive) AT: IMMOFINANZ - Starting share buyback programme for up to 1% of share capital (positive) AT: STRABAG - Resignation of Peter Krammer became effective as of June 12 (neutral) RO: Medlife - Medlife opens a new clinic in Targu Mures, and expands its regional presence through two acquisitions (positive) RU: Transneft, RusHydro - Government decree provides for RUB 23.3 bn in 2021 dividends from RusHydro and RUB 76 bn from T...
Raiffeisen Research Institutional Equity Daily 25.05.2022
AT: CA Immo - Q1 ahead of expectations, additional valuation effects (positive) AT: EVN - Q2 operating result above expectations, net income affected by goodwill impairment, net guidance confirmed though (positive) AT: IMMOFINANZ - Solid Q1, no new guidance or dividend announcement yet (neutral) AT: UBM Development - Relatively uneventful Q1 with results in line with pre pandemic years HU: OTP - OTP bought 100k of its shares (neutral) PL: CCC - Interview with HalfPrice CEO (neutral) RO: BRD-GSG,...
Raiffeisen Research Institutional Equity Daily 25.02.2022
AT: EVN - Q1 21/22 EBITDA in line, net better than expected, EUR 200-240 mn net income guidance confirmed (neutral) AT: IMMOFINANZ - CPI reaches 53.3% stake in IMMOFINANZ (neutral) AT: Rosenbauer - Company intends to increase stake in its American subsidiary (positive) AT: Wienerberger - Divestment of French plastic piping business planned (positive) HR: Ericsson Nikola Tesla - Good performance in Q4 21 at all levels (positive) HR: Hrvatski Telekom - EBITDA margin set to further impr...
ROS ROSENBAUER INTERNATIONAL AG
WIE WIENERBERGER AG
TRNFP TRANSNEFT PJSC PREF.
RTKM ROSTELECOM PJSC
GAZP GAZPROM PJSC
ALRS ALROSA PJSC
HT-R-A HRVATSKI TELEKOM DD
BRD BRD-GROUPE SOCIETE GENERALE
TLV BANCA TRANSILVANIA S.A.
SNG SOCIETATEA NATIONALA DE GAZE NATURALE ROMGAZ SA
COTE CONPET SA
TGN SOCIETATEA NATIONALA DE TRANSPORT GAZE NATURALE TRANSGAZ S.A.
IIA IMMOFINANZ AG
ERNT-R-A ERICSSON NIKOLA TESLA D.D.
- Andrew Keeley
- Andrey Gromadin
- Anton Stroutchenevski
- Artem Vinogradov
- Arthur Cherkesov
- Cole Akeson
- Dmitry Troshin
- Georgiy Ivanin
- Konstantin Samarin
- Maria Martynova
- Research Team
- Sergey Donskoy
CIS Market Daily - February 21, 2022
MARKET COMMENT - GRIM DONBASS HEADLINES, HOPES FOR A PRESIDENTS' SUMMITThe RTS fell 4% on Friday to 1,391 following bearish headlines from southern Russia and eastern Ukraine late in the afternoon. Global markets were also soft, the MSCI ACWI slipping 0.9%. Russia assets are higher early this morning, corresponding with news of a more mixed global environment and hopes for a summit between the Russian and US presidents. STORIES> Sharp escalation in tensions ahead of diplomatic meetings this week...
- Andrew Keeley
- Andrey Gromadin
- Anton Chernyshev
- Anton Stroutchenevski
- Artem Vinogradov
- Arthur Cherkesov
- Cole Akeson
- Dmitry Troshin
- Georgiy Ivanin
- Konstantin Samarin
- Maria Martynova
- Research Team
- Sergey Donskoy
CIS Market Daily - 21 февраля 2022
КОММЕНТАРИЙ И ПРОГНОЗ - ПЕССИМИСТИЧНЫЕ СООБЩЕНИЯ О СИТУАЦИИ НА ДОНБАССЕ, НАДЕЖДЫ НА САММИТ ПРЕЗИДЕНТОВ РФ И СШАИндекс РТС в пятницу упал на 4% до 1 391 пункта после появления к вечеру пессимистичных сообщений о ситуации на востоке Украины. Глобальные рынки также снижались, индекс MSCI ACWI отступил на 0,9%. Сегодня утром российские активы растут в цене на фоне сообщений о неоднозначной ситуации на глобальных рынках и надежд на саммит президентов России и США. НОВОСТИ> ВВП России в 2021 году увел...
- Andrew Keeley
- Andrey Gromadin
- Arthur Cherkesov
- Cole Akeson
- Konstantin Samarin
- Research Team
CIS Market Daily - January 14, 2022
MARKET COMMENT - A 6% CORRECTION ON DIPLOMAT QUOTES, BUT THE OVERALL BACKDROP IS MORE COMPLEXThe RTS saw its sharpest fall since April 2020, coinciding with negative remarks from diplomats regarding recent days' negotiations. However, the broader picture even on that issue is more complex. Meanwhile, Russia indicators have bounced back overnight. Global stock markets are under pressure separately, largely due to hawkish remarks from Fed officials that are of particular concern for growth stocks....
- Andrey Gromadin
- Anton Chernyshev
- Anton Stroutchenevski
- Artem Vinogradov
- Cole Akeson
- Konstantin Samarin
- Research Team
CIS Market Daily - 14 января 2022
КОММЕНТАРИЙ И ПРОГНОЗ - РОССИЙСКИЙ РЫНОК ПРОСЕЛ НА 6% ПОСЛЕ ЗАЯВЛЕНИЙ ДИПЛОМАТОВИндекс РТС вчера понес самые значительные потери с апреля 2020 на фоне негативных комментариев дипломатов по итогам переговоров, прошедших в последние дни. Тем не менее за ночь индикаторы российского рынка восстановились. Глобальные фондовые рынки остаются под давлением, в основном из-за жестких комментариев представителей ФРС США. НОВОСТИ> Рынок нефти стабилизировался, инвесторы анализируют очередные комментарии ФРС...
With a more favourable environment, TRANSNEFT improves to Positive
TRANSNEFT (RU), a company active in the Pipelines industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 3 out of 4 stars, as well as its unchanged, defensive market behaviour. The title leverages a more favourable environment and raises its general evaluation to Positive. As of the analysis date January 7, 2022, the closing price was RUB 160,000.00 and its potential was estimated at RUB...
- Andrey Gromadin
- Anton Stroutchenevski
- Artem Vinogradov
- Cole Akeson
- Konstantin Samarin
- Research Team
- Yaroslav Lissovolik
CIS Market Daily - December 14, 2021
MARKET COMMENT - RUSSIAN RISK-OFFRussian stocks sold off sharply nearly across the board yesterday and have moved lower still so far this morning. This comes amid lingering geopolitical anxiety and concern of impending policy tightening from central banks this week. STORIES> US official visiting Moscow today for talks on Russia-Ukraine standoff> Budget continues to show strong revenue growth in November> Russian oil and gas: Solid upside remains after good run
TRNFP TRANSNEFT PJSC PREF.
LKOH OIL COMPANY LUKOIL PJSC
SIBN NOVATEK JSC
GAZP GAZPROM NEFT PJSC
ROSN GAZPROM PJSC
NVTK ROSNEFT OIL CO.
LKODN ROSNEFT OIL CO. SPONSORED GDR REGS
OGZD NOVATEK JSC SPONSORED GDR REGS
TATNP OIL COMPANY LUKOIL PJSC SPONSORED ADR
GZPFY GAZPROM (GDR)
TRNF TATNEFT (PREF A)
GAZPROM NEFT (GDR)
TRANSNEFT
- Andrey Gromadin
- Anton Chernyshev
- Anton Stroutchenevski
- Artem Vinogradov
- Cole Akeson
- Konstantin Samarin
- Research Team
CIS Market Daily - 14 декабря 2021
КОММЕНТАРИЙ И ПРОГНОЗ - ИНВЕСТОРЫ ПРОДАЮТ РОССИЙСКИЕ АКТИВЫРоссийский рынок акций вчера резко упал на фоне геополитических опасений и ожиданий, что на этой неделе ведущие центробанки ужесточат денежно-кредитную политику. НОВОСТИ> В ноябре доходы бюджета России продолжали расти> Снижение цен на нефть продолжится> Российский нефтегазовый сектор. Декабрь-2021: акции заметно подорожали, но высокий потенциал роста сохраняется
TRNFP TRANSNEFT PJSC PREF.
LKOH OIL COMPANY LUKOIL PJSC
SIBN NOVATEK JSC
GAZP GAZPROM NEFT PJSC
ROSN GAZPROM PJSC
NVTK ROSNEFT OIL CO.
LKODN ROSNEFT OIL CO. SPONSORED GDR REGS
OGZD NOVATEK JSC SPONSORED GDR REGS
TATNP OIL COMPANY LUKOIL PJSC SPONSORED ADR
GZPFY GAZPROM (GDR)
TRNF TATNEFT (PREF A)
GAZPROM NEFT (GDR)
TRANSNEFT
Raiffeisen Research Institutional Equity Daily 13.12.2021
AT: CA Immo - Petrus advisors trying to force extraordinary dividend payment to be capital reduction (neutral) AT: Erste Group - Some responsibilities changes at Erste Bank Austria (neutral) AT: Raiffeisen Bank International - RBI securitizes EUR 4.1 bn exposure PL: Santander Bank Polska - 50 bps rate cuts to boost NII by additional PLN 275 - 325 mn (positive) RS: S&P - S&P lifts Serbia's rating outlook, putting it at the brink of the IG club RU: Transneft - The company will start ...
- Andrey Gromadin
- Konstantin Samarin
Russian Oil and Gas. December 2021 - Solid Upside Remains After Good R...
Russian oil and gas shares have risen by 40% YTD, outperforming the MSCI EM Energy Index by 20% on the back of improving financials, driven by stronger oil and gas prices. We still see material upside in Russian oil and gas names, which we believe offer sustainable double-digit dividend yields - more than double the average for global peers.> There were no material surprises in 2021 either on the regulatory front or in terms of corporate news flow. Stronger oil and gas prices are reducing potent...
TRNFP TRANSNEFT PJSC PREF.
LKOH OIL COMPANY LUKOIL PJSC
SIBN NOVATEK JSC
GAZP GAZPROM NEFT PJSC
ROSN GAZPROM PJSC
NVTK ROSNEFT OIL CO.
LKODN ROSNEFT OIL CO. SPONSORED GDR REGS
OGZD NOVATEK JSC SPONSORED GDR REGS
TATNP OIL COMPANY LUKOIL PJSC SPONSORED ADR
GZPFY GAZPROM (GDR)
TRNF TATNEFT (PREF A)
GAZPROM NEFT (GDR)
TRANSNEFT
- Andrew Keeley
- Andrey Gromadin
- Anton Stroutchenevski
- Artem Vinogradov
- Arthur Cherkesov
- Cole Akeson
- Konstantin Samarin
- Research Team
- Yaroslav Lissovolik
CIS Market Daily - December 13, 2021
MARKET COMMENT - MONETARY POLICY IN FOCUSG7 WARNS RUSSIA ON STANDOFF WITH UKRAINEAsian and European stock indexes traded modestly down on Friday. However, the US session provided substantial support, with both the S&P 500 and NASDAQ closing 0.7-1.0% higher, as the high inflation data was already in line with the market estimates. Russian stocks traded down on Friday after a strong rebound on Thursday. The RTS declined 1.2% on low volumes.STORIES> Tighter monetary policy to help disinflation in 2...
- Andrew Keeley
- Andrey Gromadin
- Anton Chernyshev
- Anton Stroutchenevski
- Artem Vinogradov
- Arthur Cherkesov
- Cole Akeson
- Konstantin Samarin
- Research Team
CIS Market Daily - 13 декабря 2021
КОММЕНТАРИЙ И ПРОГНОЗНефтяные котировки повысились в преддверии ежемесячного отчета ОПЕК и на фоне снижения обеспокоенности омикрон-штаммом.НОВОСТИ> Ужесточение ДКП будет способствовать дезинфляции в 2022 году> Нефтяные котировки повысились в преддверии ежемесячного отчета ОПЕК и на фоне снижения обеспокоенности омикрон-штаммом> ЛУКойл согласовал новые условия участия в проекте "Шах-Дениз"> Транснефть в 2022 году начнет выплачивать дивиденды на полугодовой основе; планируется дробление акций> Ka...
Raiffeisen Research Institutional Equity Daily 03.12.2021
Oil&Gas: Oil price - OPEC+ alliance agreed to continue increasing monthly product WIG index review - WIG30 add: Pepco; Del: Kruk AT: Andritz - New orders in pulp&paper (neutral) AT: Andritz - Share buyback reinstated (neutral) AT: Politics - Government reshuffle in AT (neutral) AT: UNIQA - Repurchase of EUR 375 mn, instead of EUR 300, placement of new EUR 375 mn bond (neutral) RU: Moscow Exchange - Trading volumes expectedly up yoy in Nov 21, but 21e DY not very alluring in our vie...
- Anastasia Khakhaeva
- Andrew Keeley
- Andrey Gromadin
- Anton Stroutchenevski
- Artem Vinogradov
- Arthur Cherkesov
- Cole Akeson
- Fedor Kornachev
- Konstantin Samarin
- Maria Martynova
- Research Team
- Sergey Donskoy
CIS Market Daily - December 3, 2021
MARKET COMMENT - MARKETS DELIVER MORE OPTIMISTIC MESSAGES THAN DIPLOMATSThe RTS edged up 0.2% to 1,690 versus a 0.8% gain for the MSCI EM. Markets grew more optimistic amid strong macro data and stock performances in the US session, but that has led to a more mixed picture in markets this morning, as detailed below. Top Russian and US officials reported no breakthroughs in short talks yesterday, and investors will likely continue to watch Eastern European politics through the weekend.STORIES> Ru...
- Anastasia Khakhaeva
- Andrew Keeley
- Andrey Gromadin
- Anton Chernyshev
- Anton Stroutchenevski
- Artem Vinogradov
- Arthur Cherkesov
- Cole Akeson
- Fedor Kornachev
- Konstantin Samarin
- Maria Martynova
- Research Team
- Sergey Donskoy
CIS Market Daily - 3 декабря 2021
КОММЕНТАРИЙ И ПРОГНОЗ - НАСТРОЙ НА РЫНКАХ БОЛЕЕ ОПТИМИСТИЧНЫЙ, ЧЕМ У ПОЛИТИКОВИндекс РТС в четверг подрос на 0,2% до 1 690 пунктов, а MSCI EM - на 0,8%. Оптимизм усилился на фоне хорошей макростатистики и позитивной динамики на рынке акций после начала торгов в США, но сегодня утром динамика более неоднородна. На выходных инвесторы, вероятно, продолжат следить за политическими новостями из Восточной Европы. НОВОСТИ> Цены на нефть упали и восстановились на фоне неожиданных результатов заседания О...
- Andrew Keeley
- Andrey Gromadin
- Anton Chernyshev
- Arthur Cherkesov
- Cole Akeson
- Georgiy Ivanin
- Konstantin Samarin
- Research Team
CIS Market Daily - 1 декабря 2021
КОММЕНТАРИЙ И ПРОГНОЗ - УТРОМ НАБЛЮДАЮТСЯ ПОКУПКИ НА НИЗКИХ УРОВНЯХ ПОСЛЕ ЖЕСТКИХ КОММЕНТАРИЕВ ГЛАВЫ ФРСДинамика рынков вчера была разнонаправленной, но общие индикаторы немного снизились (индекс MSCI EM отступил на 0,5%). Россия слегка опередила аналоги, индекс РТС поднялся на 0,4% до 1 646 пунктов. Глава ФРС США Джером Пауэлл дал понять, что выкуп активов может быть свернут быстрее, чем ожидалось. Эти комментарии спровоцировали падение на рынках, в первую очередь в США. Сегодня утром большинст...
- Andrew Keeley
- Andrey Gromadin
- Arthur Cherkesov
- Cole Akeson
- Georgiy Ivanin
- Konstantin Samarin
- Research Team
CIS Market Daily - December 1, 2021
MARKET COMMENT - BARGAIN HUNTING THIS MORNING AFTER HAWKISH POWELL COMMENTSMarkets were widely mixed yesterday, though aggregates were a bit lower (e.g. MSCI EM -0.5%). Russia slightly outperformed, the RTS gaining 0.4% to reach 1,646. Fed Chair Jerome Powell's remarks that asset purchases could be reduced faster than previously guided sent especially the US market into a downward trend later in the day Moscow time. Bargain hunting and mixed APAC macro reports have driven a recovery across most ...
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