RC Research Portal - Top 5 Reports

Russia: Russian real estate - Monthly Moscow residential transactions

2012-02-07

January residential transactions: According to Rosreestr, the amount of residential real estate transactions in Moscow in January 2012 fell 9% YoY to 4,048. This compares with an 11% YoY increase in 4Q11 and 7% YoY increase in 2011.

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Russia: CTC Media Inc - Weekly audience share data

2012-02-07

Weekly audience share data out: According to TNS, during the week of 23 29 January, the all-day (4+ demographic) audience share of the CTC, Peretz and Domashniy channels amounted to 7.5%, 2.2% and 3.4%, respectively. The CTC channel’s four-week average audience share of 7.8% remains below the 8.1% delivered during the same period in 2011. The Peretz network’s four-week average share of 2.0% was above the 1.7% average achieved a year earlier. The Domashniy network’s four-week average audience share increased to 2.9%, materially above its average of 1.8% in the respective period in 2011.

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Nigeria: Afren plc – On the road in Asia, with Afren

2012-02-07

We think Afren (AFR) remains the best value for your buck. Last week, we spent a couple of days on the road with AFR’s chief executive, Osman Shahenshah, and associate director, Galib Virani. On the back of this trip we maintain our positive view on the company.

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Russia: No Genghis Khan and no computer

2012-02-07

From Herzen and Trotsky to today’s opposition, drawing none-too-subtle parallels to current authorities is now deeply in vogue. The 20th century liberal writer, Alexander Herzen, said what he feared most about the future were wars and revolution and, in his characterisation of Nicholas I, he personified that fear in a single figure.

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Russia: RusHydro – At your service...

2012-02-07

Coverage initiated with a SELL rating: Our DCF valuation of RusHydro produces a target price of $0.031/share, c. 20% below the current market price. However, we caution that the company is so entwined with the Russian state and big business that we struggle to establish a solid investment case for minority shareholders.

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