Analytical research for institutional clients
Aragvi posted moderately positive financials for the 1H2020 ended 31.12.2019
Aragvi holding (Trans-Oil group), Moldova’s largest agro-producer, recently posted IFRS financials for six months ended 31 December 2019
ITI Capital: Bank of Russia: to cut or not cut, that is the question!
On Friday, March 20, Russia’s Central Bank is set to take one of the toughest and unpredictable decisions
ITI Capital: Why the global bear market is likely to last?
We believe that the global financial climate is likely to deteriorate further, but the decline is expected to be patchy
ITI Capital: Why USDRUB won’t strengthen to 75?
We believe that the market has passed the first bottom, but we do not rule out another much slower decline
Metinvest (B3/B/BB-): weak 2019 financial results. Negative for the group's Eurobonds
Metinvest B.V., the parent company of steel producer Metinvest, has released its audited IFRS consolidated financial statements for the 12 months ended 31 December 2019
Fed’s cut: shot in the air, how soon UST yields to fall below 0%?
The Federal Reserve slashed interest rates by 50 bps to 1-1.25% in the first such emergency move since the 2008 subprime mortgage crisis
In the eye of the storm: key assets outlook and strategy
Panic is growing as coronavirus is spreading faster outside China and rating agencies downgrade economic outlook
India Infoline (Ba3/-/BB-): attractive primary market offering
We recommend to consider buying debut eurobonds of India Infoline (Ba3/-/BB-), India’s diversified financial conglomerate
The Bank of Russia has delivered a rate cut, set for further easing
Bank of Russia has cut the rate in line with our forecast amid a faster real inflation slowdown (annual inflation in January slowed to 2.4%)
Home Credit Bank: perpetual eurobonds look attractive
We recommend buying HCFB perpetual eurobonds (HCFB perp, YTS 8.1%) with at least 1.8% upside potential in the near term
Closing of an idea to buy Petropavlovsk GDRs
Roman Trotsenko is selling a 22.4% stake in Petropavlovsk to Uzhuralzoloto, the Russian media reported. We believe the deal is potentially negative for the company's further development in terms of shareholder value and therefore close the investment idea that delivered a 71% return
Russia’s Central Bank to cut rate
Russia’s Central Bank (CBR) first policy meeting is scheduled for Friday, February 7, followed by a press-release at 13:30 and a press-conference at 15:00
Trans-oil (Aragvi Finance International): proven progress
On January 31, Trans-oil (Aragvi Finance International) released strong trading update for 6 months ended 31.12.2019
MSCI Russia: Inflow into Lukoil stocks will amount to $200 mln, out of which $120 mln are already in the market
On Friday, January 31, MSCI index provider completed a review of Lukoil, raising the company's weight in the MSCI Russia index