Morning Note /
Russia

Alfa Morning Bulletin: 8 April 2022

  • Ruble rallies

  • Global markets tick higher

  • Russian equities remain buoyant

Alfa
8 April 2022
Published byAlfa

Ruble rallies: Russian equities climbed higher on Thursday – RTSI (+5.6% @ 1,092) and IMOEX (+0.9% @ 2,637) – and the ruble made a strong advance, testing RUB74.00 vs. the US dollar intraday before settling at 75.75 at the close.

Russian equities remain buoyant: Against a relatively positive global backdrop this morning Russian equities can be expected to advance further today. Although ALROSA is likely to face headwinds after being added to US sanctions overnight. The US Congress voted to remove its "most favored nation" trade status on Russian and another to tighten the ban on oil imports.

KEY NEWS

  • Finance Minister Siluanov suggests to ease capital controls – MIXED

  • TCS Group (U/R) ring-fences its Russian business

  • BELUGA GROUP (U/R): 1Q22 operating results

  • Ozon’s 4Q21 financial update brought no surprises, 2022 GMV growth guidance reiterated

  • Sistema 4Q21 results broadly in line with expectations