EME Equity Market – January 2023 Market performance – strong start to 2023 in Czechia and Greece; multi-month rally interrupted in Turkey. The MSCI EM Europe Index gained 3.2% mom in EUR terms and 4.6% mom in USD in January. The Czech PX and the Greek ASE were the best performers, posting double-digit gains of 12.3% and 10.0% mom in EUR terms, respectively. There were also very decent performances from Poland, Hungary and Romania, with gains of 5.5% mom, 5.5% mom and 4.7% mom in EUR terms, respe...
HEADLINES: • Icelandic Banks: the outliers (initiating on Arion banki with a BUY and Islandsbanki with a HOLD) • OTP Bank: should fare well, absent more negative events (upgraded to BUY) • LPP: 3Q22 below expectations on costs pressure; strong Black Friday sales; FY22E guidance maintained NEGATIVE • US macro: Fed sticking to its hawkish message • NLB Group: constitutional court annuls FX law • Addiko Bank: Slovenian Constitutional Court rejects retroactive Swiss Franc Law POSITIVE • Mytilin...
EME Equity Market – October 2022 Market performance – in a positive month across the board, Turkey outperforms yet again. The MSCI EM Europe Index advanced by 12.7% mom in EUR terms and 14.4% mom in USD. The ISE30 was, once again, the best-performing index in our coverage, adding 23.4% mom in EUR terms and 25.2% in local currency terms. All the other indices recorded positive performances as well, with the WIG (+14.8% EUR / 11.5% lcl), the BUX (+11.4% EUR / 8.5% lcl) and the ASE (+10.3% EUR) del...
HEADLINES: • Orange Polska: 3Q22 results - EBITDAaL up 4% yoy, 5% above the consensus POSITIVE • Mytilineos: strong 3Q22, well ahead of our forecasts POSITIVE • Kaspi.kz: 3Q22 results - on track + guidance upgrade • Romanian real estate: postcard from Bucharest • Norilsk Nickel: 3Q22 operating results - 2022 run-rates close to guidance, cautious on 2023E NEUTRAL • Orange Polska: increases mobile contract B2C prices by 6-10% POSITIVE • CCC: bondholders approve changes in covenants NEUTRAL • Cyf...
HEADLINES: • Czech banks: Czech government presents windfall tax proposal • CEZ: disappointing windfall tax news NEGATIVE • Romanian energy: potential impact from EU emergency measures • LPP: key takeaways from the post-results conference • Jumbo: 9M22 sales +11% yoy, driven by strong domestic sales • Inter Cars: September sales growth stays at a solid 27% yoy POSITIVE • Norilsk Nickel: LME seeks market opinion on possible Russian metal ban NEUTRAL • Polish telecoms: mobile number portabilit...
EME Equity Market – August 2022 Market performance – Turkey the biggest winner, in a predominantly bad month. The MSCI EM Europe Index declined 1.2% mom in EUR and 2.8% mom in USD terms. Turkey’s ISE index outperformed all other indices, adding 24.9% mom in EUR terms and 25.1% in local currency terms. Hungary’s benchmark, the BUX Index, added 1.1% mom and 0.2% mom in EUR and HUF terms, respectively. Greece’s ASE Index had a muted performance and added only 0.6% mom. All the other indices across ...
AT: Flughafen Wien - Hike of FY 22 guidance (positive) AT: Lenzing - Q2 EBITDA in line, but better margins and higher positive USD effects on the bottom line (positive) CZ: Komercni Banka - Q2 22 earnings slightly above expectations, 2022 guidance marginally increased from the revenue, growth mix (positive) PL: Alior Bank - Q2 22 net profit ahead of market expectations on better F&CI and lower risk costs, 2022 outlook wording broadly unchanged (positive) PL: mBank - Q2 pre-tax profit...
HEADLINES: • Komercni Banka: strong 2Q22 results, 2022E outlook tweaked up, windfall tax risk still unknown NEUTRAL • Alior Bank: posts solid set of 2Q22 results POSITIVE • mBank: books strong gross profit (7% beat), but misses on bottom line due to tax rate reassessment NEUTRAL • BRD-GSG: 2Q22 - strong bottom line for another quarter • Alpha Bank: 2Q22 - positive trends across the board • Norilsk Nickel: 1H21 IFRS review - 6% below consensus on EBITDA, FCF slides by 25% yoy NEGATIVE • Polish...
EME Equity Market – July 2022 Market performance – markets mostly up during the month, but Russia’s MOEX down 9.4% in EUR terms. The MSCI EM Europe Index added 2.3% mom in EUR, but lost 0.5% mom in USD in July. The Greek ASE Index was the best performing benchmark, advancing 5.0% mom in EUR. Hungary’s benchmark, the BUX Index, added 4.4% mom and 6.5% mom in EUR and HUF terms, respectively. Romania’s BET Index gained 1.7% mom in EUR terms and 1.3% mom in local currency, while Turkey’s ISE20 added...
HEADLINES: • Pilulka Lekarny: blowing with the e-commerce wind (HOLD - initiation of coverage) • Wizz Air: thoughts on capital increase post 1Q FY23 results, CASK and RASK comparison vs. RYA • Mytilineos: strong second quarter, 2H22E should be even better • Titan Cement: 2Q22 - price increases restoring profitability • Garanti: 2Q22 highlights - beat, with lower quality • Ford Otosan: 2Q22 results - strong beat POSITIVE • Siauliu Bankas: 2Q22 - another strong quarter POSITIVE • Arena Hosp...
AT: Andritz - Andritz to supply a combi-pulping system to China (neutral) CZ: Moneta Money Bank - Manecomte raises the stake to 10% EU: Gas supply - Nord Stream 1 expected to resume gas exports as scheduled, but at reduced capacity (neutral) EU: Utilities - EU commission to present plan to reduce gas consumption today (neutral) PL: Insurers - Motor insurance prices to increase (positive) RU: MMK - Steel sales volumes shrank by 16% yoy in H1 2022
PJSC Magnitogorsk Iron and Steel Works / Mot-clé(s) : Emprunt PJSC Magnitogorsk Iron and Steel Works: MMK NOTIFIE LA PROLONGATION SUPPLÉMENTAIRE DU PROCESSUS DE DEMANDE DE CONSENTEMENT 01-Juil-2022 / 10:30 CET/CEST MMK NOTIFIE LA PROLONGATION SUPPLÉMENTAIRE DU PROCESSUS DE DEMANDE DE CONSENTEMENT 30 JUIN 2022 MAGNITOGORSK, RUSSIE PJSC Magnitogorsk Iron & Steel Works (MOEX : MAGN ; LSE : MMK) informe de la nouvelle prolongation de la demande de consentement pour son solde impayé de 500 000 000 de dollars US, 4...
DGAP-News: PJSC Magnitogorsk Iron and Steel Works / Schlagwort(e): Anleihe PJSC Magnitogorsk Iron and Steel Works: MMK GIBT WEITERE VERLÄNGERUNG DES VERFAHRENS ZUR EINHOLUNG DER ZUSTIMMUNG DER ANLEIHEGLÄUBIGER BEKANNT 30.06.2022 / 16:45 Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. MMK GIBT WEITERE VERLÄNGERUNG DES VERFAHRENS ZUR EINHOLUNG DER ZUSTIMMUNG DER ANLEIHEGLÄUBIGER BEKANNT 30. JUNI 2022 MAGNITOGORSK, RUSSLAND PJSC Magnitogorsk Iron & Steel Works (MOEX: MAGN; LSE: MMK) gibt eine weitere Verlängerung des Verfahrens zur ...
MAGNITOGORSK, Russia--(BUSINESS WIRE)-- PJSC Magnitogorsk Iron & Steel Works (MOEX: MAGN; LSE: MMK) notifies on the further extension of the Consent Solicitation for its outstanding U.S.$500,000,000 4.375 per cent. Guaranteed Notes due 2024. On 6 June 2022, PJSC Magnitogorsk Iron & Steel Works (the “Guarantor”) announced a consent solicitation in relation to the outstanding U.S.$500,000,000 4.375% Notes due 2024 issued by MMK International Capital DAC (the “Issuer”) ISIN: XS1843434959 (Regulation S) / US553142AA88 (Rule 144A); Common Code: 111730628 (Regulation S) / 111730628 (Rule 144A Commo...
PJSC Magnitogorsk Iron and Steel Works (MMK) PJSC Magnitogorsk Iron and Steel Works: MMK notifies on additional extension of consent solicitation process 30-Jun-2022 / 13:00 CET/CEST Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. mmk notifies on additional extension of consent solicitation process 30 JUNE 2022 Magnitogorsk, Russia PJSC Magnitogorsk Iron & Steel Works (M...
HEADLINES: • CCC: too fast, too furious (stays BUY) • Turkey macro: first genuinely bad confidence reading since COVID-19 • Romania macro: better than most • Greece macro: economic sentiment index drops sharply in June • Poland macro: economic sentiment down again, but consumers are the brighter spot • Czech Republic macro: confidence falls in June, but overall trend not too bad • Eurozone macro: June signals further mild improvements in inflation dynamics • Santander Bank Polska: to crea...
PJSC Magnitogorsk Iron and Steel Works (MMK) PJSC Magnitogorsk Iron and Steel Works: MMK notifies of removal of its global depository receipts from the London Stock Exchange Official List 27-Jun-2022 / 16:15 CET/CEST Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. MMK notifies of removal of its Global Depository receipts from the london stock exchange official list 27 june 2022 Magnitogorsk,...
MAGNITOGORSK, Russie--(BUSINESS WIRE)-- PJSC Magnitogorsk Iron & Steel Works (MOEX: MAGN ; LSE: MMK) informe du deuxième prolongement de la Sollicitation de consentement pour ses billets garantis de 500 000 000 USD à 4,375 pour cent, arrivant à échéance en 2024. Le 9 juin 2022, PJSC Magnitogorsk Iron & Steel Works (le « Garant ») a annoncé le prolongement de la Sollicitation de consentement en rapport avec les billets en circulation de 500 000 000 USD à 4,375% arrivant à échéance en 2024, émis par MMK International Capital DAC (l’« Émetteur ») (ISIN : XS1843434959 [règlement S]/US553142AA88 [...
MAGNITOGORSK, Russia--(BUSINESS WIRE)-- PJSC Magnitogorsk Iron & Steel Works (MOEX: MAGN; LSE: MMK) notifies on the second extension of the Consent Solicitation for its outstanding U.S.$500,000,000 4.375 per cent. Guaranteed Notes due 2024. On 9 June 2022, PJSC Magnitogorsk Iron & Steel Works (the “Guarantor”) announced extension of consent solicitation in relation to the outstanding U.S.$500,000,000 4.375% Notes due 2024 issued by MMK International Capital DAC (the “Issuer”) (ISIN: XS1843434959 (Regulation S) / US553142AA88 (Rule 144A); Common Code: 111730628 (Regulation S) / 111730628 (Rule...
PJSC Magnitogorsk Iron and Steel Works (MMK) PJSC Magnitogorsk Iron and Steel Works: MMKnotifies on second extention of consent solicitation process 17-Jun-2022 / 13:00 CET/CEST Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. MMK notifies on second extension of consent solicitation process 17 JUNE 2022 Magnitogorsk, Russia PJSC Magnitogorsk Iron & Steel Works (MOEX: MAGN; LSE...
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