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X5 Retail Group N.V.: 1 director
A director at X5 Retail Group N.V. sold 20,000 shares at 21.000USD and the significance rating of the trade was 86/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years cl...
- 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...
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
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...
- Anton Stroutchenevski
- Artem Vinogradov
- Cole Akeson
- Ekaterina Usanova
- Mikhail Krasnoperov
- Research Team
CIS Market Daily - March 18, 2022
MARKET COMMENT - SOME BOND HOLDERS RECEIVE COUPONS WHILE EQUITIES STILL FROZEN, CAPITAL CONTROLS IN PLACEThe ruble gained 4.5% in Moscow Exchange trading and fell 4.9% in offshore trading to be quoted around USD/RUB 102-103, reaching the narrowest spread in weeks. Reuters reported that some bond holders had successfully received dollar coupon payments that were due on Russian sovereigns. STORIES> Russia's budget surplus reaches R156 bln in February> X5 Group's 4Q21 EBITDA 7% above our estimate
- Anton Chernyshev
- Anton Stroutchenevski
- Artem Vinogradov
- Cole Akeson
- Ekaterina Usanova
- Mikhail Krasnoperov
- Research Team
CIS Market Daily - 18 марта 2022
КОММЕНТАРИЙ И ПРОГНОЗ - ДЕРЖАТЕЛИ ЕВРООБЛИГАЦИЙ РФ ПОЛУЧИЛИ КУПОННЫЕ ВЫПЛАТЫ, РОССИЙСКИЕ АКЦИИ ПО-ПРЕЖНЕМУ ЗАМОРОЖЕНЫ ДЛЯ НЕРЕЗИДЕНТОВ ИЗ-ЗА ОГРАНИЧЕНИЙ НА ВЫВОЗ КАПИТАЛАРубль вчера укрепился на 4,5% на Московской бирже, но на внешнем рынке просел на 4,9% до 102-103 руб. за доллар, и разница между курсами на внешнем и внутреннем рынках стала наименьшей за последние недели. Агентство Reuters сообщило, что держатели российских суверенных еврооблигаций благополучно получили купонные платежи в долла...
- Evgeniy Kipnis
- Olesya Vorobyeva
X5 Retail Group: 4Q21 IFRS results
X5 (FIVE LI / FIVE RX: U/R) reported its 4Q21 financials, which came in line with our expectations both on revenue and EBITDA. The 2021 EBITDA margin of 7.3% came in line with recent guidance and the company’s strategic commitment to maintain >7% EBITDA margin. The company decided not to distribute the final 2021 dividend amid the current market condition. Looking into 2022, the demand side looks secured for food retailers, and the ongoing stockpiling is likely to support X5’s and Magnit’s Lf...
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...
- Research Team
WOOD Flash – Russian coverage universe: under review
Russia’s invasion of Ukraine has led to unprecedented dislocations of capital and resources, on top of human tragedies. The sanctions imposed, by the world’s key nations, on Russia, its politicians, institutions, companies and businessmen, as well as the counter-measures introduced by the Russian government, are wide-ranging and continue to be imposed on a daily basis. The most severe sanctions are related to the freezing of the CBR’s FX reserves, as well as the freezing of non-residents’ assets...
QIWI QIWI PLC SPONSORED ADR CLASS B
AFLT AEROFLOT RUSSIAN AIRLINES
AFKS SISTEMA PJSFC
POLY POLYMETAL INTERNATIONAL PLC
PJP X5 RETAIL GROUP N.V. SPONSORED GDR REGS
MAIL MAIL.RU GROUP LTD. SPONSORED GDR
RTKM ROSTELECOM PJSC
MTSS MOBILE TELESYSTEMS PJSC
2ET ETALON GROUP (GDR)
ALRS ALROSA PJSC
ROSN ROSNEFT OIL CO. SPONSORED GDR REGS
NVTK NOVATEK JSC SPONSORED GDR REGS
5M71 MAGNIT PJSC SPONSORED GDR REGS
3LSA LSR GROUP (GDR)
MOEX MOSCOW EXCHANGE MICEX-RTS PJSC
PLZL POLYUS (GDR)
LKODN OIL COMPANY LUKOIL PJSC SPONSORED ADR
OGZD GAZPROM (GDR)
SBNC SBERBANK RUSSIA PJSC SPONSORED ADR
ATAD TATNEFT (GDR)
904596 SURGUTNEFTEGAS (GDR)
MINING AND METALLURGICAL COMPANY NORILSK NICKEL (GDR)
OZON OZON HOLDINGS
GDEV NEXTERS INC
HHR HEADHUNTER GROUP PLC
Raiffeisen Research Institutional Equity Daily 22.02.2022
AT: Andritz - Andritz to supply a new pickling and galvanizing line to Jiuquan Iron and Steel in China (neutral) AT: Frequentis - Frequentis bought 51% stake in small family-owned Italian emergency system and software company (neutral) AT: Semperit - Press news about renewed disposal plans for Sempermed (positive) AT: Vienna Insurance Group - EU orders Hungary to cancel veto of Aegon transaction (neutral) HU: OTP - CKB files the criminal charges against 2 employees suspected in embezz...
Enel Russia confirmed at BUY, TP RUB 0.98 - Green image, nice dividend...
Still the closest quasi-benchmark on Russian renewables there is Despite the Murmansk windfarm delays, around 30% of EBITDA this year is to come from renewables (around 40% next year) DY of 10% and higher long term (12-13% DY on average in 2022-23e) Reassurance on dividends at the Strategy update next month could be welcomed by investors Mothballed turbine equipment sale could be a positive short-term trigger (with an 8% upside) BUY confirmed, TP down to RUB 0.98 from RUB 1.04 on hig...
- 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
- Georgiy Ivanin
- Maria Martynova
- Research Team
- Sergey Donskoy
CIS Market Daily - February 11, 2022
MARKET COMMENT - HIGHEST US CPI IN FOUR DECADES, NORMANDY IMPASSE SIGNAL DECLINESAlthough markets were flat to positive early in the day, the US CPI report came in higher than expected and broke a four-decade record, sending US indexes down 1.6-2.1% by the close. Russia had outperformed, the RTS climbing 0.8% to 1,547. However, the combination of global markets repricing US inflation and rates risks, and a downbeat impasse from yesterday's Normandy talks, has left major Russia indicators down 1-...
- Alisa Zakirova
- Ekaterina Sidorova
- Igor Rapokhin
- Olga Sterina
- Research Team
- Sergey Kolesnikov
- FRM
Долговые рынки сегодня - 11 февраля 2022. АЛРОСА опубликовала данные п...
РЫНОК ВНЕШНЕГО ДОЛГА СТРАН СНГРезкое повышение доходности гособлигаций США вчера оказало давление на цены суверенного долга развивающихся рынков. В сегменте 10-летних обязательств российские бумаги выглядели гораздо более устойчивыми, чем аналоги, и подешевели всего на 0,3 п. п. В прочих сегментах суверенных бумаг слабее рынка выглядел выпуск Россия-47 (минус 1,1 п. п.). ГОСУДАРСТВЕННЫЕ ЦЕННЫЕ БУМАГИНерезиденты вчера более активно продавали ОФЗ, т. к. инфляция в США оказалась выше прогнозов, и д...
- Alisa Zakirova
- Ekaterina Sidorova
- Igor Rapokhin
- Olga Sterina
- Research Team
- Sergey Kolesnikov
- FRM
Debt Markets Today - February 11, 2022. Alrosa January Sales; Nornicke...
CIS EUROBOND MARKETA sharp increase in US Treasury yields following the higher than expected US CPI prints put pressure on EM sovereign debt yesterday. Russia's 10y sovereign Eurobonds fared better than peers, dropping only 0.3 pp in price. The Russia 47 underperformed with a 1.1 pp decline.GOVERNMENT DEBTInternational offers in the OFZ market picked up yesterday after the higher than expected US CPI readings and the resulting jump in US Treasury yields. However, the mood in the market was a bit...
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