reports
- 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
- Research Team
WOOD Daily: WPL PW; SHO PW; PBK RO; DIGI RO; DAT PW; TENERGY GA; EL RO...
HEADLINES: • Wirtualna Polska: strong 1Q22, with adjusted EBITDA up 19% yoy, 7% above our estimate POSITIVE • Shoper: 1Q22 results in line with preliminary guidance NEUTRAL • Patria Bank: 1Q22 results review - strong NII offset by weaker other income and higher costs • DIGI Communications: 1Q22 results - pro forma adjusted EBITDA up 9% yoy, in line with our estimate NEUTRAL • DataWalk: preliminary 1Q22 results - sales up 21% yoy, to PLN 4.18m NEGATIVE • Terna Energy: Investor Day highlights • ...
- Research Team
The Rear-View Mirror – EME markets: MSCI EM Europe Index loses half it...
EME Equity Market – March 2022 Market performance – regional benchmarks mostly in the black, despite the MSCI EM Europe Index losing half of its value. Following its decline in February, the MSCI EM Europe Index lost in March as well, declining by 49.5% in EUR terms and 50.1% in USD terms. Russia’s MOEX Index added 13.2% in EUR terms and 9.4% RUB terms (we note that Russian companies’ GDRs are still suspended for trading). The Turkish ISE30 Index added 8.2% in EUR terms and 13.3% in local curren...
PEO BANK POLSKA KASA OPIEKI SA
KER KERNEL HOLDING S.A.
JMT JERONIMO MARTINS SGPS S.A.
OPAP GREEK ORGANISATION OF FOOTBALL PROGNOSTICS SA
KRU KRUK S.A.
EXAE HELLENIC EXCHANGES SA
TCELL TURKCELL ILETISIM HIZMETLERI A.S.
MOL MOL NYRT
EBS ERSTE GROUP BANK AG
CEZ CEZ AS
ACP ASSECO POLAND SA
CDR CD PROJEKT S.A.
RBI RAIFFEISEN BANK INTERNATIONAL AG
OMV OMV AG
PGN POLSKIE GORNICTWO NAFTOWE I GAZOWNICTWO SA
KOMB KOMERCNI BANKA A.S.
TITK TITAN CEMENT CO. SA
BHW BANK HANDLOWY W WARSZAWIE S.A.
BIMAS BIM BIRLESIK MAGAZALAR A.S.
WIZZ WIZZ AIR HOLDINGS PLC
PZU POWSZECHNY ZAKLAD UBEZPIECZEN SPOLKA AKCYJNA
FOYRK FOURLIS HOLDINGS S.A.
GEKTERNA GEK TERNA
CAI CA IMMOBILIEN ANLAGEN AG
PKN POLSKI KONCERN NAFTOWY ORLEN S.A.
SAR GR. SARANTIS S.A.
LPP LPP S.A.
CCOLA COCA-COLA ICECEK A.S.
CIE CIECH S.A.
ANY ALLAMI NYOMDA
AST ASTARTA HOLDING
GTC GLOBE TRADE CENTRE S.A.
DOM DOM DEVELOPMENT SA
EEG1T EKSPRESS GRUPP A.S.
AEGN AEGEAN AIRLINES SA
AUG1L AGROWILL GROUP AB
TTKOM TURK TELEKOMUNIKASYON A.S.
ENA ENEA S.A.
BFT BENEFIT SYSTEMS S.A. ALLOTMENT
MGROS MIGROS TICARET A.S
LWB LUBELSKI WEGIEL BOGDANKA S.A.
PGE PGE POLSKA GRUPA ENERGETYCZNA S.A.
POLY POLYMETAL INTERNATIONAL PLC
LVC LIVECHAT SOFTWARE SA
TPEIR PIRAEUS BANK SA
PPC PUBLIC POWER CORPORATION S.A.
OTP OTP BANK NYRT
PPA PIRAEUS PORT AUTHORITY S.A.
CAR INTER CARS S.A.
FROTO FORD OTOMOTIV SANAYI A.S.
OTKAR OTOKAR OTOMOTIV VE SAVUNMA SANAYI A.S.
THYAO TURK HAVA YOLLARI A.O.
ULKER ULKER BISKUVI SANAYI A.S.
EUR EUROCASH S.A.
ECH ECHO INVESTMENT
FMF FAMUR SA
CPS CYFROWY POLSAT SA
POSR POZAVAROVALNICA SAVA
MAIL MAIL.RU GROUP LTD. SPONSORED GDR
GPW WARSAW STOCK EXCHANGE
MTSS MOBILE TELESYSTEMS PJSC
11B 11 BIT STUDIOS S.A.
TPE TAURON POLSKA ENERGIA S.A.
ALRS ALROSA PJSC
DAT DATAWALK SA
ALR ALIOR BANK SA
TCS TCS GROUP HOLDING PLC SPONSORED GDR CLASS A REGS
BANK OF CYPRUS PCL
HB HELLENIC BANK LTD.
WPL WIRTUALNA POLSKA HOLDING SA
SKK SIRMA GROUP HOLDING JSC
BELA JUMBO S.A.
TLV BANCA TRANSILVANIA S.A.
NVTK NOVATEK JSC SPONSORED GDR REGS
SNG SOCIETATEA NATIONALA DE GAZE NATURALE ROMGAZ SA
H4L1 HALYK SAVINGS BANK OF KAZAKHSTAN GDR
BNET BITTNET SYSTEMS
SNP PETROM S.A.
LKODN OIL COMPANY LUKOIL PJSC SPONSORED ADR
OGZD GAZPROM (GDR)
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.
TGN SOCIETATEA NATIONALA DE TRANSPORT GAZE NATURALE TRANSGAZ S.A.
A4L ALLTERCO AD
ALPHA ALPHA BANK
EAT AMREST HOLDINGS SE
KAP NATIONAL ATOMIC COMPANY KAZATOMPROM
ARNT-R-A ARENATURIST D.D.
TEN TEN SQUARE GAMES
ADKO ADDIKO BANK
ALG ALLEGRO.EU SA
CZG CESKA ZBROJOVKA GROUP
INPST INPOST S.A.
PCF PCF GROUP SA
HUGE HUUUGE
WINE ALRO SLATINA
4IG PURCARI WINERIES PCL
ONE 4IG NYRT
ONE UNITED PROPERTIES SA
- Research Team
WOOD Daily: WIZZ LN; PEO PW; BIMAS TI; CIE PW; SBER RX; LKOD LI; ALRS ...
HEADLINES: • Wizz Air: difficult year ahead, but sell-off excessive (stays BUY) • Bank Pekao: very solid 4Q21, but disappointing dividend proposal • BIM: 4Q21 strongly above expectations POSITIVE • Ciech: 4Q21 preliminary adjusted EBITDA 5% above the consensus, but quality of profit is high POSITIVE • Sberbank: 4Q21 results • Lukoil: FY21 financial results review • Alrosa: 4Q21 IFRS results - EBITDA down 25% qoq, on lower revenues per carat • Polymetal: 2H21 IFRS results - top line and EBIT...
BIMAS BIM BIRLESIK MAGAZALAR A.S.
WIZZ WIZZ AIR HOLDINGS PLC
SAR GR. SARANTIS S.A.
CIE CIECH S.A.
POLY POLYMETAL INTERNATIONAL PLC
CPS CYFROWY POLSAT SA
ALRS ALROSA PJSC
WPL WIRTUALNA POLSKA HOLDING SA
LKODN OIL COMPANY LUKOIL PJSC SPONSORED ADR
COTE CONPET SA
TGN SOCIETATEA NATIONALA DE TRANSPORT GAZE NATURALE TRANSGAZ S.A.
SBNC SBERBANK RUSSIA PJSC SPONSORED ADR
- 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 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
- 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...
- 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
- Andrey Gromadin
- Konstantin Samarin
Oil and Gas - Strong 4Q21 Results Expected, 1Q22 Outlook Even Brighter
The 4Q21 earnings season is about to kick off starting with Rosneft on Friday, followed by Novatek (February 16) and Gazprom Neft (February 17) next week. Lukoil, Tatneft and Gazprom will report 4Q21 financials in March-April. We expect sector EBITDA to rise again, particularly in the gas segment amid record high European gas prices. Dividend distributions should rise across the sector as well. Based on our estimates for 4Q21, most of the companies should see their full-year financials bounce ba...
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)
TATNEFT (PREF A)
GAZPROM NEFT (GDR)
- Anastasia Khakhaeva
- Andrey Gromadin
- Cole Akeson
- Ekaterina Usanova
- Fedor Kornachev
- Konstantin Samarin
- Mikhail Krasnoperov
- Research Team
CIS Market Daily - February 1, 2022
MARKET COMMENT - MARKETS MELTING UP; NEW US SANCTIONS BILL IMMINENTThe MSCI ACWI climbed 1.7% as global markets continued to climb on the last day of the month, with consumer discretionary and tech names in the lead. Easing US futures and a lack of fundamental drivers signal the global rally needs a new catalyst to push further. Russia melted up yesterday, the RTS climbing 2.0% to 1,435, while a new US sanctions bill and diplomatic headlines appear imminent today, as detailed below.STORIES> Luko...
- Anastasia Khakhaeva
- Andrey Gromadin
- Anton Chernyshev
- Cole Akeson
- Ekaterina Usanova
- Fedor Kornachev
- Konstantin Samarin
- Mikhail Krasnoperov
- Research Team
CIS Market Daily - 1 февраля 2022
КОММЕНТАРИЙ И ПРОГНОЗ - НАСТРОЙ НА РЫНКАХ УЛУЧШИЛСЯ, В США ОЖИДАЕТСЯ НОВЫЙ ЗАКОНОПРОЕКТ О САНКЦИЯХИндекс MSCI ACWI вчера прибавил 1,7%, глобальные рынки в последний день января продолжали расти, при этом больше всего поднялись котировки потребительских и высокотехнологичных компаний. Снижение фьючерсов на фондовые индексы США и нехватка фундаментальных драйверов свидетельствуют о том, что для продолжения ралли на глобальных рынках необходим новый катализатор. На российском рынке вчера настрой ул...
- Alessio Chiesa
- Pawel Wieprzowski
- PhD
EME Strategy: where’s the yield? In EME!
In late-2020, the value of bonds trading with negative yields reached an all-time high value of USD 18trn. Since then, yields have started growing worldwide, and the sum halved to c.USD 9trn as of the end of January 2022. Although rising bonds yields do not usually favour high-dividend yielding stocks (HDY), we still believe that the latter may remain an attractive investment opportunity. As these equities usually tend to have strong balance sheets (low leverage, solid cash holdings), combined w...
OPAP GREEK ORGANISATION OF FOOTBALL PROGNOSTICS SA
CEZ CEZ AS
PETG PETROL D.D.
HTO HELLENIC TELECOMMUNICATIONS ORGANIZATION SA
KOMB KOMERCNI BANKA A.S.
BHW BANK HANDLOWY W WARSZAWIE S.A.
PZU POWSZECHNY ZAKLAD UBEZPIECZEN SPOLKA AKCYJNA
SBER SBERBANK RUSSIA PJSC
KTY GRUPA KETY SA
ANY ALLAMI NYOMDA
DOM DOM DEVELOPMENT SA
ECH ECHO INVESTMENT
GSPARK GRAPHISOFT PARK SE
GPW WARSAW STOCK EXCHANGE
ALRS ALROSA PJSC
OTOEL AUTOHELLAS S.A.
BRD BRD-GROUPE SOCIETE GENERALE
MONET MONETA MONEY BANK AS
H4L1 HALYK SAVINGS BANK OF KAZAKHSTAN GDR
SNP PETROM S.A.
LKODN OIL COMPANY LUKOIL PJSC SPONSORED ADR
OGZD GAZPROM (GDR)
COTE CONPET SA
FP. FONDUL PROPRIETATEA S.A. GDR (REG S)
ATAD TATNEFT (GDR)
NLBR NLB GROUP
ENJSA ENERJISA ENERJI
SF3 STS GROUP AG
ADKO ADDIKO BANK
MINING AND METALLURGICAL COMPANY NORILSK NICKEL (GDR)
With a more favourable environment, PJSC LUKOIL 144A ADR improves to S...
PJSC LUKOIL 144A ADR (RU), a company active in the Integrated Oil & Gas 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, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date January 7, 2022, the closing price was USD 89.98 and i...
- Andrey Gromadin
- Anton Stroutchenevski
- Artem Vinogradov
- Cole Akeson
- Konstantin Samarin
- Research Team
- Yaroslav Lissovolik
CIS Market Daily - December 29, 2021
MARKET COMMENT - GLOBAL PERFORMANCES MIXED AMID WEAK VOLUMESUS markets pulled back a bit yesterday after their substantial gains in the days prior, with benchmark stock indexes closing down 0.1-0.6%. European stock indexes finished with gains of up to 0.6%. The Russian market continued to advance amid thin trading, the RTS rising 0.6% on the back of strong oil prices.STORIES> Russia calls for an expeditious response to its security proposals> State Statistics Service's CPI methodology to change ...
- Andrey Gromadin
- Anton Chernyshev
- Anton Stroutchenevski
- Artem Vinogradov
- Cole Akeson
- Konstantin Samarin
- Research Team
CIS Market Daily - 29 декабря 2021
КОММЕНТАРИЙ И ПРОГНОЗ - РАЗНОНАПРАВЛЕННАЯ ДИНАМИКА НА ФОНЕ НИЗКИХ ОБЪЕМОВАмериканский рынок акций умеренно скорректировался после значительного роста в последние несколько дней. Фондовые индексы в США снизились на 0,1-0,6%. Европейские индексы выросли в пределах 0,6%. Российский рынок продолжил расти на фоне низких объемов торгов, индекс РТС прибавил 0,6% благодаря повышению цен на нефть. НОВОСТИ> Росстат с 2022 года будет использовать новую методологию расчета инфляции> Нефть может подорожать ...
- Alisa Zakirova
- Andrey Gromadin
- Anton Stroutchenevski
- Artem Vinogradov
- Ekaterina Sidorova
- Igor Rapokhin
- Konstantin Samarin
- Olga Sterina
- Research Team
- Rodion Lomivorotov
- Yaroslav Lissovolik
Debt Markets Today - December 20, 2021. Russian Security Proposals, CB...
CIS EUROBOND MARKETActivity has remained sluggish in the Russian sovereign Eurobond segment. On Friday, only the Russia 29, 35, 43 and 47 saw paper trading hands - those bonds closed 0.2-0.5 pp lower on the day. However, the recent local demand for euro-denominated paper remains in place. GOVERNMENT DEBTAs expected, the CBR raised the key rate by 100 bps and maintained its hawkish rhetoric on Friday (more below). OFZ yields finished the day 5-10 bps lower, with long-dated issues outperforming sh...
- Alisa Zakirova
- Andrey Gromadin
- Anton Stroutchenevski
- Artem Vinogradov
- Ekaterina Sidorova
- Igor Rapokhin
- Konstantin Samarin
- Olga Sterina
- Research Team
- Rodion Lomivorotov
Долговые рынки сегодня - 20 декабря 2021. Ключевая ставка ЦБ РФ прибли...
РЫНОК ВНЕШНЕГО ДОЛГА СТРАН СНГТорги в российском суверенном сегменте в пятницу по-прежнему проходили вяло, лишь цены выпусков Россия-29, -35, -43 и -47 снизились на 0,2-0,5 п. п. Сохраняется спрос локальных инвесторов на выпуски в евро.ГОСУДАРСТВЕННЫЕ ЦЕННЫЕ БУМАГИКак и ожидалось, в пятницу ЦБ РФ повысил ставку на 100 б. п., сохранив жесткую риторику. Доходности ОФЗ по итогам дня снизились на 5-10 б. п., при этом длинные выпуски опередили короткие: по всей видимости, рынок сосредоточился на комм...
- Anastasia Khakhaeva
- Andrew Keeley
- Andrey Gromadin
- Anton Stroutchenevski
- Arthur Cherkesov
- Cole Akeson
- Fedor Kornachev
- Igor Rapokhin
- Konstantin Samarin
- Mikhail Krasnoperov
- Research Team
- Yaroslav Lissovolik
CIS Market Daily - December 20, 2021
MARKET COMMENT - RISK-OFF TRADING CONTINUESThe main European and US stock indexes ended the day about 1% lower on Friday amid headlines about tightening monetary policy, as well as fresh uncertainty over the Omicron variant. The Russian stock market generally followed the global trends and was additionally pressured by a 2.4% drop in Brent below $73/bbl. The RTS Index finished off 1.4%. STORIES> Russia advances its security proposals> CBR Review: Approaching peak key rate, but not there yet> Nov...
- Andrew Keeley
- Andrey Gromadin
- Anton Chernyshev
- Anton Stroutchenevski
- Arthur Cherkesov
- Cole Akeson
- Igor Rapokhin
- Konstantin Samarin
- Research Team
CIS Market Daily - 20 декабря 2021
КОММЕНТАРИЙ И ПРОГНОЗ - НА РЫНКАХ СНОВА ПРЕОБЛАДАЕТ РИСКОФОБИЯОсновные фондовые индексы в Европе и США снизились в пятницу примерно на 1% на фоне новостей об ужесточении денежно-кредитной политики и возросшей неопределенности относительно последствий для экономики от омикрон-штамма коронавируса. Российский фондовый рынок следовал за мировыми, дополнительное давление на него оказало падение цен Брент на 2,4% ниже $73/барр. Индекс РТС снизился к концу дня на 1,4%. НОВОСТИ> Ключевая ставка приближа...
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