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African Morning Monitor
Инвестиционный бюллетень
Обзор рынка долговых обязательств
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Reports
May 8, 2008
Research Alert: BMB Munai - Overlooked opportunity
1 Pages
PDF file 32.3 KB
BMB Munai today (8 May) announced record-high April production of 4,666bpd, achieved mid-month. Average April production of 3,714bpd is about 68% up MoM, and 51% better than the company’s average production in 1Q08, on our estimates. The increase in production resulted primarily from good production rates at the newly drilled Kariman-6 and Kariman-7 wells. With two more Kariman wells (Kariman-8 and Kariman-10) set to be drilled this year, we expect BMB Munai’s eyecatching growth trend to continue.
May 8, 2008
Medvedev is in - What are the implications?
2 Pages
PDF file 88.3 KB
No revaluation of the rouble to the basket in the immediate future Possible rating upgrade from Moody’s, and in 2H from S&P Dmitry Medvedev was sworn in as President of the Russian Federation yesterday (7 May) and has fulfilled his promise to nominate Vladimir Putin as a prime minister. The Duma now has a week to vote on Putin’s candidacy, but we have little doubt that it will vote him in as early as today. The constitution then gives the newly appointed prime minister a week to come up with his ideas on the composition of the government (information he is not obligated to make public).
May 8, 2008
Razgulay Group - Strategic upgrade
22 Pages
PDF file 291 KB
We upgrade our target price to $11.1 (from the previous $8.8, before placing it under review) and reiterate our BUY rating. Our new target price includes the value of 70,000 ha of arable land, which we expect to come under Razgulay’s ownership by YE08. We add this to the value of Razgulay’s operating business as arable land is an increasingly scarce and highly valuable asset within the global context. Not only does land ownership secure control over future cash flows and higher margins, but also gives a competitive advantage over peers, which increases in proportion to the period for which the land is cultivated.
May 8, 2008
The hrivnya: Buy, make money and run
8 Pages
PDF file 170 KB
The policy choice in today’s Ukraine seems particularly tough, with both inflation and the current account deficit rapidly spinning out of control.
May 8, 2008
Financials monthly – Russia, CIS
28 Pages
PDF file 311 KB
Both VTB and Sberbank reported strong FY07 numbers during April. However, neither set the tone for a sustained share price rally following results conference calls during which VTB indicated a difficult 2008E ahead of it and Sberbank delivered a mixed message on 2008E costs and highlighted that any clear communication and delivery on its new strategy is likely to be a 2H08 story.
Отчеты
8 мая 2008
Индекс MSCI Russia: итоги последней ребалансировки
3 Pages
PDF file 251 KB
Компания MSCI Barra объявила результаты ежегодной ребалансировки индексов. Наиболее значимым для российского рынка стало включение акций Уралкалия в расчет MSCI Russia и MSCI EM с весами 2.2% и примерно 0.2% соответственно.
8 мая 2008
Группа Разгуляй: повышение теоретической цены
3 Pages
PDF file 225 KB
Мы повышаем теоретическую цену по акциям Группы Разгуляй c USD8.8 до USD11.1 и подтверждаем рекомендацию ПОКУПКА.
8 мая 2008
Группа Черкизово: размещено 3.5 млн новых акций
3 Pages
PDF file 209 KB
Группа Черкизово привлекла USD82.25 млн путем размещения 3.5 млн новых обыкновенных акций (которые будут включены в котировальный список РТС).
8 мая 2008
Астарта-Киев: не только производство сахара
3 Pages
PDF file 240 KB
На основе оценки по методу ДДП теоретическая цена по акциям компании Астарта-Киев составляет EUR17.5, что предполагает наличие потенциала роста на 23%.
8 мая 2008
Украинские облэнерго – приватизация отменена
3 Pages
PDF file 197 KB
Глава ФГИ Украины В. Семенюк-Самсоненко выпустила постановление, отменяющее аукционы по приватизации блокирующих пакетов акций шести электрораспределительных компаний.
All Reports
Morning Monitor
Thursday, May 8, 2008
Wednesday, May 7, 2008
Tuesday, May 6, 2008
Monday, May 5, 2008
Инвестиционный бюллетень
Четверг, 8 мая, 2008
Среда, 7 мая, 2008
Вторник, 6 мая, 2008
Понедельник, 5 мая, 2008
Обзор рынка долговых обязательств
8 мая, 2008
The hrivnya: Buy, make money and run
8 Pages
PDF file 170 KB
The policy choice in today’s Ukraine seems particularly tough, with both inflation and the current account deficit rapidly spinning out of control.
Четверг, 8 мая, 2008
Среда, 7 мая, 2008
Вторник, 6 мая, 2008
Понедельник, 5 мая, 2008
Top 5 Most Popular Articles
This is a list of our most popular research articles over the last seven days. The number in brackets represents the number of times each piece was read.
4 May, 2008 Комментарий по рынку акций (56)
7 May, 2008 Комментарий по рынку акций (51)
5 May, 2008 Комментарий по рынку акций (49)
6 May, 2008 Комментарий по рынку акций (48)
8 May, 2008 Комментарий по рынку акций (39)
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