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 31.05.2022
MSCI May Index Review - Standard indices (STD) changes: DEL: Raiffeisen Bank Intl.; SmallCap indices (SC) changes: ADD: STRABAG SE, DEL: Zumtobel Oil&Gas: Oil price - EU agreed to ban most of Russia oil imports AT: STRABAG - Double digit output growth and backlog at new high in Q1, FY 22 guidance reiterated (positive) CZ: Moneta Money Bank - PPF and Moneta terminate the acquisition of AirBank group / cancelation of the capital increase and mandatory tender offer by PPF HU: Makro - Ra...
Raiffeisen Research Institutional Equity Daily 30.03.2022
AT: FACC - FY 21 results in line with preliminaries, outlook wording confirmed AT: Utilities - Drought likely to affect Q1 22 hydro output (negative) AT: Wienerberger - 0.69% of the capital repurchased so far (neutral) DE: Encavis - Encavis delivers on results and guidance beat (positive) RU: Inter RAO - Not discussing delisting from the Moscow Exchange (positive) RU: RusHydro - Paying agent blocks coupon payment on RUB eurobond over British sanctions (negative) RU: Russia - Minist...
Raiffeisen Research Institutional Equity Daily 02.03.2022
STOXX Europe 600 Index review - No changes of index constituents in our Coverage Universe AT: Andritz - Andritz received equipment order from Essity in the U.S. (neutral) AT: EVN, OMV - Infrastructure Minister announces new law for gas reserves (neutral) AT: Flughafen Wien - Airport operator confirms FY 22 guidance with Q4 reporting (neutral) AT: OMV - OMV decided not to invest in Achimov IV/V gas field in Russia, involvement in the Nord Stream 2 under review (neutral) AT: RBI - RBI ...
PEO BANK POLSKA KASA OPIEKI SA
CEZ CEZ AS
EVN EVN AG
RBI RAIFFEISEN BANK INTERNATIONAL AG
OMV OMV AG
PKO PKO BANK POLSKI S.A.
BHW BANK HANDLOWY W WARSZAWIE S.A.
VER VERBUND AG CLASS A
SPL SANTANDER BANK POLSKA SA
MIL BANK MILLENNIUM SA
PKN POLSKI KONCERN NAFTOWY ORLEN S.A.
LPP LPP S.A.
UBS UBM DEVELOPMENT AG
ANDR ANDRITZ AG
HYDR FEDERAL HYDRO-GENERATING COMPANY - RUSHYDRO PJSC
GAZP GAZPROM PJSC
FLU FLUGHAFEN WIEN AG
MOL MOL HUNGARIAN OIL & GAS PLC CLASS A
NLBR NOVA LJUBLJANSKA BANKA DD LJUBLJANA
- Andrew Keeley
- Andrey Gromadin
- Anton Stroutchenevski
- Artem Vinogradov
- Arthur Cherkesov
- Cole Akeson
- Dmitry Troshin
- Georgiy Ivanin
- Konstantin Samarin
- Research Team
CIS Market Daily - March 2, 2022
MARKET COMMENT - RDX DOWN MORE THAN IN 1998, MSCI RUSSIA THE MOST SINCE 2008 AS MOSCOW TRADING REMAINS CLOSEDWhile Moscow stock trading remains closed, offshore and composite indexes dropped another 6-57%. The RDX offshore DR index has now fallen 91% since its October decade-long peak, a fall sharper than that of 1998 or 2008. The government announced plans to support the market with share purchases, while capital restrictions and supply shocks have also been in the news.STORIES> Government mull...
- Alisa Zakirova
- Andrey Gromadin
- Anton Stroutchenevski
- Artem Vinogradov
- Dmitry Troshin
- Ekaterina Sidorova
- Georgiy Ivanin
- Igor Rapokhin
- Konstantin Samarin
- Olga Sterina
- Research Team
- Rodion Lomivorotov
- Sergey Kolesnikov
- FRM
Debt Markets Today - March 2, 2022. Supply Shock Affecting Prices, Oil...
CIS EUROBOND MARKETRussian sovereign Eurobond quotes continued to fall yesterday, sliding another 12-30 pp to 27-35% of par. The market is still illiquid due to the significant uncertainty related to sanctions. Meanwhile, Ukrainian sovereign Eurobond quotes are in the 32-35% price range.GOVERNMENT DEBTAs was the case on Monday, there was no trading in local government bonds yesterday. Meanwhile, Euroclear and Clearstream announced that their accounts with the National Settlement Depository of Ru...
- Alisa Zakirova
- Andrey Gromadin
- Anton Stroutchenevski
- Artem Vinogradov
- Dmitry Troshin
- Ekaterina Sidorova
- Georgiy Ivanin
- Igor Rapokhin
- Konstantin Samarin
- Olga Sterina
- Research Team
- Rodion Lomivorotov
- Sergey Kolesnikov
- FRM
Долговые рынки сегодня - 2 марта 2022. Финансовые результаты Полюса и ...
РЫНОК ВНЕШНЕГО ДОЛГА СТРАН СНГВчера котировки российских суверенных еврооблигаций продолжали снижаться, отступив еще на 12-30 п. п. до 27-35% от номинальной стои-мости. На рынке по-прежнему очень низкая ликвидность из-за высокого уровня неопределенности вокруг санкций. В то же время цены суверенных еврооблигаций Украины держались в пределах 32-35% от номинальной стоимости. ГОСУДАРСТВЕННЫЕ ЦЕННЫЕ БУМАГИВчера торги рублевыми гособлигациями не проводились, как и в понедельник. В то же время Eurocle...
- 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 - 2 марта 2022
КОММЕНТАРИЙ И ПРОГНОЗСегодня утром котировки Брент выросли до $111/барр., и, вероятно, поднимутся еще выше, хотя МЭА объявило, что страны ОЭСР скоординированно выведут на рынок 60 млн барр. нефти из своих стратегических резервов. После объявлений ВР и Equinor, сделанных ранее на этой неделе, еще несколько крупных международных нефтяных компаний сообщили о решении продать свой бизнес в России или выразили серьезную обеспокоенность сложившейся ситуацией.НОВОСТИ> Нехватка предложения начала сказыва...
- Dmitry Troshin
- Georgiy Ivanin
RusHydro - 2021 IFRS Results and Dividend Plans Above Expectations
RusHydro reported a strong set of 2021 IFRS results, which beat our estimates and the consensus. The company plans to pay a record-high DPS of R0.089 for 2021, which was also above our expectations and the consensus. RusHydro's key challenges this year will likely be refinancing more than R80 bln in debt and heavy capex spending.> 2021 numbers above our estimates and consensus. RusHydro's revenues including subsidies grew 7.1% y-o-y to R460.1 bln, 2% and 1% above our forecast and the consensus. ...
- Andrew Keeley
- Andrey Gromadin
- Anton Stroutchenevski
- Artem Vinogradov
- Arthur Cherkesov
- Cole Akeson
- Dmitry Troshin
- Georgiy Ivanin
- Konstantin Samarin
- Research Team
CIS Market Daily - February 28, 2022
MARKET COMMENT - NONRESIDENT SECURITY SALES FROZEN; POSSIBLE RUSSIA-UKRAINE NEGOTIATIONS IN FOCUSThe RTS finished the week with a 33% decline to 937 and valuations at levels not seen since 2008 or earlier. This morning, the CBR froze security sales for nonresidents and delayed the opening of stock trading until at least 13:00 Moscow time. Negotiations scheduled between Russia, Ukraine and Belarus are the obvious focal point for markets, as well as any other news flow on market restrictions or sa...
- Andrew Keeley
- Andrey Gromadin
- Anton Stroutchenevski
- Artem Vinogradov
- Arthur Cherkesov
- Cole Akeson
- Dmitry Troshin
- Georgiy Ivanin
- Konstantin Samarin
- Research Team
CIS Market Daily - 28 февраля 2022
КОММЕНТАРИЙ И ПРОГНОЗ - ЗАПРЕТ ДЛЯ НЕРЕЗИДЕНТОВ НА ПРОДАЖУ РОССИЙСКИХ ЦЕННЫХ БУМАГ; В ЦЕНТРЕ ВНИМАНИЯ ПЕРЕГОВОРЫ МЕЖДУ УКРАИНОЙ И РОССИЕЙИндекс РТС по итогам прошлой недели упал на 33% до 937 пунктов, рыночные оценки достигли уровней, которые не наблюдались как минимум с 2008 года. Сегодня утром Банк России ввел запрет для нерезидентов на продажу российских ценных бумаг и отложил начало торгов на рынке акций до 15:00 мск. В центре внимания сейчас, конечно, переговоры между Россией и Украиной, а ...
- Dmitry Troshin
- Georgiy Ivanin
Russian Utilities - Following Interest Rate Trend
The shares of Russian power-generating companies (gencos) dropped 12% in ruble terms in 2021, underperforming the broader market by 27 pp amid an acceleration in inflation and rise in interest rates in Russia, which dimmed the dividend outlooks and the increased capex risks. Given the depressed current share prices, most of the stocks offer attractive returns. We expect to see investors become a bit more interested in the sector during the dividend season in June-July, but we do not anticipate a...
- Cole Akeson
- Dmitry Troshin
- Ekaterina Usanova
- Georgiy Ivanin
- Maria Martynova
- Mikhail Krasnoperov
- Research Team
- Sergey Donskoy
CIS Market Daily - January 28, 2022
MARKET COMMENT - SHARPEST GAIN SINCE MARCH 2020 AS INVESTORS WELCOME LACK OF POLITICAL NEWSThe RTS soared 5.7% to almost 1,400 as a lack of worrisome headlines allowed investors to focus back in on Russia's valuations, which have reached record cheap levels. Global markets have been more mixed, with stock markets struggling but cyclicals outperforming. The preference for cyclicals and a decent to bullish backdrop for Russia assets specifically look supportive this morning.STORIES> Polymetal post...
- Anton Chernyshev
- Cole Akeson
- Dmitry Troshin
- Ekaterina Usanova
- Georgiy Ivanin
- Maria Martynova
- Mikhail Krasnoperov
- Research Team
- Sergey Donskoy
CIS Market Daily - 28 января 2022
КОММЕНТАРИЙ И ПРОГНОЗ - РОССИЙСКИЙ РЫНОК ПОКАЗАЛ САМЫЙ ЗНАЧИТЕЛЬНЫЙ РОСТ С МАРТА 2020 ГОДА НА ФОНЕ ПОЛИТИЧЕСКИХ НОВОСТЕЙИндекс РТС вчера вырос на 5,7% почти до 1 400 пунктов. В отсутствие негативных новостей инвесторы снова сфокусировали внимание на рыночной оценке российских акций, которые подешевели до рекордно низких уровней. На глобальных рынках динамика была разнонаправленной, фондовые рынки испытывали давление, однако цикличные сектора показали опережающую динамику. НОВОСТИ> Цены на нефть ...
- Cole Akeson
- Dmitry Troshin
- Ekaterina Usanova
- Georgiy Ivanin
- Mikhail Krasnoperov
- Research Team
CIS Market Daily - January 24, 2022
MARKET COMMENT - RATES, SOFT EARNINGS LEAN ON GLOBAL STOCKS, GEOPOLITICS ON RUSSIAGlobal markets were under broad pressure, the MSCI ACWI falling 1.7% with growth stocks particularly out of favor. Rates and inflation concerns have been joined by earnings disappointments in the early US reporting season to lean on stocks. The RTS fell 3.4% to 1,402, the weakest result among liquid EMs. News on geopolitics and international relations is likely to remain the core focus for the Russian market this w...
- 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 с...
PJSC RUSHYDRO ADR reduced its risk exposure resulting in an upgrade to...
PJSC RUSHYDRO ADR (RU), a company active in the Multiutilities industry, reduced its market risk and raised its general evaluation. The independent financial analyst theScreener awarded an improved star rating to the company, which now shows 2 out of 4 possible stars; its market behaviour has improved and can be considered as defensive. theScreener believes that this new assessment merits an overall rating upgrade to Slightly Positive. As of the analysis date January 18, 2022, the closing price ...
- Andrey Gromadin
- Anton Stroutchenevski
- Artem Vinogradov
- Cole Akeson
- Dmitry Troshin
- Georgiy Ivanin
- Research Team
- Yaroslav Lissovolik
CIS Market Daily - December 24, 2021
MARKET COMMENT - TRADING SLOWS DOWN AHEAD OF HOLIDAYThe Russian market closed in the red yesterday with the RTS Index down 0.9%. European spot gas prices have dropped 23% during the last two trading sessions to below $1,500/mcm. STORIES> US holds consultations on Russia's security proposals> Annual Putin press conference: Economy, pandemic, geopolitics> Government to allow regions to set differentiated electricity tariffs for households
- Andrey Gromadin
- Anton Chernyshev
- Anton Stroutchenevski
- Artem Vinogradov
- Cole Akeson
- Dmitry Troshin
- Georgiy Ivanin
- Research Team
CIS Market Daily - 24 декабря 2021
КОММЕНТАРИЙ И ПРОГНОЗ - ТОРГОВАЯ АКТИВНОСТЬ НИЗКАЯ Российский фондовый рынок вчера завершил торги в минусе: индекс РТС снизился на 0,9%. Спотовые цены на газ в Европе за две сессии упали на 23%, опустившись ниже $1 500/тыс. куб. м. НОВОСТИ> Основные темы пресс-конференции Владимира Путина: экономика, пандемия, геополитика> Цена нефти стабилизируется на достигнутых уровнях> Регионам разрешили вводить дифференцированные тарифы на электроэнергию для населения
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.