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Enhanced Investments: Weekly Results October 4-11
• The portfolio has fallen by 2.5% this week compared to the Moscow Exchange index -1.8%. • Currency positions have increased by 0.2%. The currency was actively sold over the weekend, partly due to concerns that trading on the yuan exchange could be stopped from the very beginning. Several weeks after the US sanctions against the Moscow Exchange, NSD and NCC came into force on October 12 (RBC)
At the same time, sources on exchanges and brokers believe that there is no risk of yuan trading being halted on Monday.
+ Factors Contributing to Continued Devaluation - The Russian government has relaxed the requirement for the country's largest exporters to sell foreign currency profits from 50% to 25%. (Kommersant) • Lukoil prices fell 2.5%. The decline in oil prices is negative. The upside and target price of the shares will increase by 4% and 1%, respectively • Yandex shares rose 0.7%. Yandex released YandexART 2.0. - It can generate text on images and helps users and businesses create logos and advertising banners (company press release) • T-Bank fell 0.1%. The company's board of directors recommended paying dividends for nine months. RUB 92.5 per share in 2024, or 3.6% div. Current P/E ratio, registration closes November 25, 2024 • Henderson shares down 3.7%, stated yield: +13% y/y in September for 9 months. 2024 +27% y/y, online sales +39% y/y (company press release) • MRSK CP down 0.7%. I spoke with the company's IR, which helped me better understand how network tariffs are set. • Arenadata up 6.3%. Selectel and Arenadata plan to launch analytics DBMS on dedicated servers (Selectel press release) • This week we held a public webinar about the market. We discussed our general view on the market, the latest news, currencies and which securities may be interesting and which are not. , a topic we will be following; Your question has been answered. The guest of the broadcast was Stepan Toropov (Granit Trade). The recordings can be viewed on YouTube and VK. • From October 1 to 7, annual inflation slowed from 8.70% to 8.60% year-on-year (Interfax). • For the first nine months of this year, the Russian budget will amount to 0.1% of GDP; by the end of the year, the Ministry of Finance expects a deficit of 2% (Kommersant). • The authorities will reduce the minimum discount for foreign transactions for the sale of assets in the Russian Federation from 50% to 60%. I increased it. The % and contribution to the budget have been increased from 15% to 35% of its value (RBC).
1Here price changes occur from the evening of Friday of the previous week until the evening of the previous Friday (the end of trading).
This research report does not constitute individual investment advice, and the financial products or transactions mentioned in this report may not be suitable for your investment profile. It is the responsibility of the investor to determine whether a financial instrument or transaction is suitable for their investment objectives, investment horizon and risk tolerance. No one other than the investor will be liable for any losses that the investor may incur as a result of trading or investing in financial products mentioned in this communication.