Strategy Former Soviet States Update

MidLincoln Research

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Former Soviet States Update

basketnameweekchmonthchytdchyearch
Former Soviet States Update0.43-7.04-45.48-45.19

Select Equity Indexes Yields

nameweekchmonthchytdchyearch
Russian Trading System Cash Index-3.61-10.76-3.91-3.91
S&P 500 Index-0.05-0.820.220.22
Hong Kong Hang Seng Index-1.01-2.12-7.16-7.16
Ibovespa Brasil Sao Paulo Stock Exchange Index-1.51-3.92-13.31-13.31
S&P BSE SENSEX Index0.56-0.71-5.36-5.36
Deutsche Boerse AG German Stock Index DAX0.14-5.62

Best Stocks 1m in USD %ch
NameWeekChCountry
TBC Bank JSC (TBCB:LI)11.36Georgia
Kernel Holding SA (0KE:GR)6.38Ukraine
KazMunaiGas Exploration Production JSC (KMG:LI)-2.36Kazakhstan
MHP SA (MHPC:LI)-2.52Ukraine
KAZ Minerals PLC (KAZ:LN)-3.50United Kingdom
KCell JSC (KCEL:LI)-3.81Kazakhstan
BGEO Group PLC (BGEO:LN)-4.57United Kingdom
Avangardco Investments Public Ltd (AVGR:LI)-14.38Ukraine
Halyk Savings Bank of Kazakhstan JSC (HSBK:LI)-15.38Kazakhstan
Ferrexpo PLC (FXPO:LN)-18.28Switzerland

Worst Stocks 1m in USD %
NameWeekChCountry
Kazkommertsbank JSC (KKB:LI)-23.44Kazakhstan
Ferrexpo PLC (FXPO:LN)-18.28Switzerland
Halyk Savings Bank of Kazakhstan JSC (HSBK:LI)-15.38Kazakhstan
Avangardco Investments Public Ltd (AVGR:LI)-14.38Ukraine
BGEO Group PLC (BGEO:LN)-4.57United Kingdom
KCell JSC (KCEL:LI)-3.81Kazakhstan
KAZ Minerals PLC (KAZ:LN)-3.50United Kingdom
MHP SA (MHPC:LI)-2.52Ukraine
KazMunaiGas Exploration Production JSC (KMG:LI)-2.36Kazakhstan
Kernel Holding SA (0KE:GR)6.38Ukraine

Best Stocks YTD in USD %
NameWeekChCountry
Kernel Holding SA (0KE:GR)42.94Ukraine
MHP SA (MHPC:LI)-6.91Ukraine
BGEO Group PLC (BGEO:LN)-18.69United Kingdom
TBC Bank JSC (TBCB:LI)-19.20Georgia
Avangardco Investments Public Ltd (AVGR:LI)-39.02Ukraine
Halyk Savings Bank of Kazakhstan JSC (HSBK:LI)-45.00Kazakhstan
KazMunaiGas Exploration Production JSC (KMG:LI)-47.79Kazakhstan
KCell JSC (KCEL:LI)-58.78Kazakhstan
KAZ Minerals PLC (KAZ:LN)-64.71United Kingdom
Ferrexpo PLC (FXPO:LN)-64.83Switzerland

Worst Stocks YTD in USD %
NameWeekChCountry
Kazkommertsbank JSC (KKB:LI)-67.72Kazakhstan
Ferrexpo PLC (FXPO:LN)-64.83Switzerland
KAZ Minerals PLC (KAZ:LN)-64.71United Kingdom
KCell JSC (KCEL:LI)-58.78Kazakhstan
KazMunaiGas Exploration Production JSC (KMG:LI)-47.79Kazakhstan
Halyk Savings Bank of Kazakhstan JSC (HSBK:LI)-45.00Kazakhstan
Avangardco Investments Public Ltd (AVGR:LI)-39.02Ukraine
TBC Bank JSC (TBCB:LI)-19.20Georgia
BGEO Group PLC (BGEO:LN)-18.69United Kingdom
MHP SA (MHPC:LI)-6.91Ukraine

Former Soviet States Update Stock News


MHP SA

  • MHP expands walk-in availability
  • MHP announces holiday hours

    Kazkommertsbank JSC

  • Samruk-Kazyna, Kazkommertsbank ink SPA
  • Kazkommertsbank JSC (KKB) Şekerbank'ın % 19,37 hissenin satın ...

    BGEO Group PLC

  • Bgeo Group PLC 35.4% Potential Upside Indicated by Jefferies ...
  • Bgeo Group PLC 39.4% Potential Upside Indicated by Peel Hunt

    Halyk Savings Bank of Kazakhstan JSC

  • Moody's takes rating actions on five Kazakh financial institutions
  • Moody's assigns Counterparty Risk Assessments to ten Kazakhstan ...

    TBC Bank JSC

  • BRIEF-TBC Bank acquires micro loans portfolio from from Procredit ...
  • TBC Bank Strengthens Support for the Georgian Energy Sector

    KAZ Minerals PLC

  • Kaz Minerals Plc (KZMYY) Stock Rating Lowered by Zacks ...
  • KAZ Minerals PLC (LON:KAZ) Receives Average Recommendation ...

    KCell JSC

  • Kazakhstan's Kcell JSC Selects Amdocs for Business Support ...
  • Kcell Returns Money to Customers Resulting from Competition Law ...

    Ferrexpo PLC

  • Ferrexpo PLC (LON:FXPO) Buy Rating Reaffirmed by Deutsche ...
  • Ferrexpo Plc 16.7% Potential Decrease Indicated by Credit Suisse

    KazMunaiGas Exploration Production JSC

  • KazMunaiGas updates 2016 budget and 2016-2020 business plan
  • Moody's: Early syndicated loan repayment is credit neutral for ...

    Avangardco Investments Public Ltd

  • BRIEF-Avangardco Investments Public Ltd scheme creditors ...
  • Sayenko Kharenko Advised On Restructuring Of AVANGARDCO ...

    Kernel Holding SA

  • NOTIFICATION OF TRANSACTIONS BY INSIDERS
  • AGM APPROVES DIVIDEND OF USD 0.25 PER SHARE





    • Former Soviet States Update


    By: MidLincoln Analyst

    Comment


    Armenia
  • Azerbaijan, Armenia presidents meet on breakaway region/.../
  • Prime Minister is convinced for Armenia to record successes in 2016/.../
  • PM: We managed to withstand difficulties and record economic growth/.../
  • Rating agencies' negative outlooks have affected Armenia's .../.../
  • Armenia's Population Growth Declines by 8.6% in Six Months/.../
  • World Bank approves US$50 million loan to enhance Armenia's .../.../
  • New tax code to help reduce Armenia's budget deficit by 1.5-2%/.../
  • Armenia: Debt-Ridden Power Company Ranks as Top Donor to .../.../
    Azerbaijan
  • President Aliyev:Azerbaijan moves along path of democracy .../.../
  • From Milo Dukanovic, Prime Minister of Montenegro/.../
  • President Aliyev:Azerbaijan moves along path of democracy .../.../
  • US Department of State announces new assistance programs in .../.../
  • Analysis: Lebanon must learn from Azerbaijan/.../
  • Foreign trade of Azerbaijan (January-October 2015 )/.../
  • A Report From Azerbaijan/...//.../
    Belarus
  • Belarus president calls not to exaggerate Minsk's role in Ukrainian .../.../
  • Lukashenko decides to reappoint Belarus' prime minister and vice .../.../
  • Belarus Is Outsider Economic Growth Rate Even Among CIS Countries/.../
  • Grodno mayor: Belarus' investment appeal growing/.../
  • Kochanova: No social assistance program curtailed in Belarus/.../
  • Belarus' economic performance in 2015 depends on oil prices/.../
  • Belarus budget 2016 to preserve priority on education, healthcare .../.../
  • Korean industrial output decline worsens
  • Four Zeros Off Currency Prime Belarus for Economic Makeover/.../
    Estonia
  • Estonia president criticises mainstream anti-immigrant sentiment/.../
  • Estonian Prime Minister predicts split in country's Center Party/.../
  • Lithuanian GDP growth may outpace Estonia's in 2016/.../
  • Nordic meat company to invest in Estonia/.../
  • Does a father's death impact the sexual activity of his children?/.../
  • Connectivity wars/.../
  • Estonia's Budget Surplus Widened to 1.1% of GDP in 2011/.../
  • South Africa Open for Business
  • Moody's: Estonia benefits from strong balance sheet and resilient .../.../
    Estonia
  • Estonia president criticises mainstream anti-immigrant sentiment/.../
  • Estonian Prime Minister predicts split in country's Center Party/.../
  • Lithuanian GDP growth may outpace Estonia's in 2016/.../
  • Nordic meat company to invest in Estonia/.../
  • Does a father's death impact the sexual activity of his children?/.../
  • Connectivity wars/.../
  • Estonia's Budget Surplus Widened to 1.1% of GDP in 2011/.../
  • Moody's: Estonia benefits from strong balance sheet and resilient .../.../
    Georgia
  • Rand Drops to Record After South Africa Debt Rating, Outlook Cut
  • Georgia's president picks vice premier to replace departed prime .../.../
  • Georgia Lawmakers Approve a New Prime Minister/.../
  • UGA experts predict a better Georgia economy in 2016, but slower .../.../
  • Republic, Advanced Disposal Expand CNG Operations/.../
  • Is most of Georgia's population growth from minorities?/.../
  • Fall hiring cuts metro jobless rate to 5.0 percent/.../
  • GUEST COLUMN: Governor's Education Reform Commission .../.../
  • Georgia Debt Collector Frederick J Hanna to Pay 3.1 Million for .../.../
    Kazakhstan
  • Kazakhstan Looks to Private Equity for Help With Its $93 Billion .../.../
  • Kazakhstan: Former Prime Minister Serik Akhmetov Imprisoned for .../.../
  • Kazakh FM Notes Key Challenge of Ensuring Economic .../.../
  • Kazakhstan makes leap in Doing Business 2016 report/.../
  • Central Asia: A Different Kind of Threat/.../
  • Four countries added to global shale oil and natural gas resource .../.../
  • Despite Setbacks, Kazakhstan's Energy Sector Still Has Hope/.../
  • Kazakhstan CDS jump, Eurobonds fall after tenge hits record low/.../
    Kazakhstan
  • Kazakhstan Looks to Private Equity for Help With Its $93 Billion .../.../
  • Kazakhstan: Former Prime Minister Serik Akhmetov Imprisoned for .../.../
  • Kazakh FM Notes Key Challenge of Ensuring Economic .../.../
  • Kazakhstan makes leap in Doing Business 2016 report/.../
  • Central Asia: A Different Kind of Threat/.../
  • Four countries added to global shale oil and natural gas resource .../.../
  • Despite Setbacks, Kazakhstan's Energy Sector Still Has Hope/.../
  • Kazakhstan CDS jump, Eurobonds fall after tenge hits record low/.../
    Kyrgyzstan
  • South Korea exports fall in every month of 2015
  • Kyrgyzstan's president says Turkey's decision to down Russian jet .../.../
  • Kyrgyz Prime Minister promises no sharp exchange rates fluctuations/.../
  • Central Asia: A Different Kind of Threat/.../
  • Ishtamberdy Mine Highlights Kyrgyzstan's Gold Dependency/.../
  • Central Asia: A Different Kind of Threat/.../
  • Smaller Cabinet helps Prime Minister Modi cut spendings
  • Trade turnover between Poland and Kyrgyzstan amounts to $ 24.5 .../.../
  • Protestors in Kyrgyzstan Cut Power to Flagship Gold Mine/.../
  • Hope for higher India economic growth
  • Why closure of Kyrgyzstan air base is point of no return for Afghan war/.../
    Latvia
  • Estonian President Ilves engaged to Latvia cyber chief/.../
  • Latvia Government Falls as Prime Minister Quits/.../
  • Latvian Economy Ministry ups GDP growth forecast for 2015/.../
  • Foreign investors: shadow economy has to be reduced in Latvia .../.../
  • Inside Skrunda-1: Latvia's secret Soviet city turned ghost town/.../
  • Latvian Economy Ministry ups GDP growth forecast for 2015/.../
  • Finance Ministry reveals Latvia's budget plans for 2016/.../
  • President B?'rzi?'??: Latvia's debt too big for current growth/.../
    Lithuania
  • Obama considers unilateral action on US gun violence
  • President signs Lithuania's 2016 budget into law/.../
  • PM Butkevi??ius says Lithuania became energy independent in 2015/.../
  • Lithuanian GDP growth may outpace Estonia's in 2016/.../
  • Baltics finally aligning on energy security/.../
  • Dropbyke is shaking up the city bike hire model/.../
  • Meet General Joseph Dunford: a Real Threat to World Peace/.../
  • Lithuania's budget revenue 2.5% above target in January-November/.../
  • S&P Raises Lithuania's Debt Rating Two Notches on Euro/.../
    Moldova
  • Moldova's president nominates Sturza as new prime minister/.../
  • Moldova Constitutional Court upholds Sturza nomination for prime .../.../
  • Moldova: farewell 2015 and hello 2016/.../
  • Record capture of heroin at the border of the Republic of Moldova/.../
  • Is Moldova the next Ukraine? Why the EU must address the .../.../
  • EU steps in to reverse Russian embargo on Moldovan fruits/.../
  • Now might be the time to buy Russia. Yes, really./.../
  • $1 billion disappears -- and Moldova looks for answers/.../
    Russia
  • Putin names United States among threats in new Russian security .../.../
  • Deputy Russian Prime Minister Dmitry Rogozin 'shoots himself in the .../.../
  • 8 Shades of Crisis - Russia's Year of Economic Nightmares/.../
  • Russia boasts attractive investment climate ??' UAE official/.../
  • America Has Its Narcissist-in-Chief, and Russia Has Theirs/.../
  • A Depressed Outlook for the Russian Ruble in 2016/.../
  • The Slide in Oil Prices Impacted Russia's Budget Revenues/.../
  • Fake: Germans Are Uneasy about Ukraine-Russia Debt Repayment .../.../
    Tajikistan
  • Tajik President Receives 'Leader' Title, Lifelong Immunity/.../
  • Li Keqiang Meets with Prime Minister Kokhir Rasulzoda of Tajikistan/.../
  • Central Asia: A Different Kind of Threat/.../
  • Coca-Cola Icecek confirms Tajikistan plant opening/.../
  • Tajikistan's Pamir Region: Forever on the Brink of Disaster?/.../
  • China's Charm Offensive in Dushanbe/.../
  • Central Asian States Still Cagey Bookkeepers, Says Washington/.../
  • ADB Updated Program in Tajikistan Targets Investment Climate .../.../
    Turkmenistan
  • Georgian President Visits Turkmenistan/.../
  • PM inaugurates TAPI gas pipeline project in Turkmenistan/.../
  • Central Asia: A Different Kind of Threat/.../
  • Trans-Caspian gas pipeline ??' promising project, says Turkmen .../.../
  • Exclusive: Feds take jobs from disabled Americans, send them to .../.../
  • Turkmenistan: Economic growth slows as exports lag/.../
  • Difficulties Loom For A Turkmen-China Energy Deal/...//.../
    Ukraine
  • Crimea responds with dignity to Ukrainian President's obscene .../.../
  • Russia says Ukraine defaulted on $3 billion Eurobond/.../
  • Yatseniuk expects slight growth of Ukraine's economy in Q4, 2015/.../
  • All to be done in new year to increase European investment in .../.../
  • PRESS DIGEST ??' RUSSIA ??' Dec 31/.../
  • Russia and Ukraine Finally Break Up/.../
  • Ukraine's budget deficit comes to UAH 4.3 bln in 11 months of 2015 .../.../
  • Russia's Legal Battle for Ukraine Debt Fraught With Politics/.../
    Uzbekistan
  • View Rate : 1154 # News Code : TTime- 251498 Print Date .../.../
  • SCO Prime Ministers Gather in China to Talk Trade and Terrorism/.../
  • Central Asia: A Different Kind of Threat/.../
  • Uzbekistan invites Indian cos at International Investment Forum/.../
  • US Comprehensive Strategy Toward Russia/.../
  • Bill Gross Talks about the Financial Imbalances That Are Hindering .../.../
  • Uzbek parliament approves state budget surplus/.../
  • CENTCOM Head Visits Uzbekistan; What's On The Agenda?/.../


    Equal Weight Basket of Former Soviet States Update

    Country Composition

    countryWeight %
    Kazakhstan 36.36
    Ukraine 27.27
    United Kingdom 18.18
    Georgia 9.09
    Switzerland 9.09

    Sector Composition

    IndustryWeight %
    Banks36.36
    Agricultural Producers18.18
    Packaged Food9.09
    9.09
    Telecom Carriers9.09
    Steel Raw Material Suppliers9.09
    Base Metals9.09

    Key Basket Multiples

    StocksTotal MCap US mnPayout RatioDiv YieldPENetMargin1yr Return
    1110199.05.68.18.1523.84-25.5

    Results

    valuestockCountryIndustryMCap US mnDividendYieldPEPSNetMarginPctPayoutRatio52wkchangeScore
    TBC Bank JSCTBCB:LIGeorgia Banks494.753.38%6.211.5324.6420.99-16.7423.88
    Halyk Savings Bank of Kazakhstan JSCHSBK:LIKazakhstan Banks1350.0013.64%---0.00-40.58
    KazMunaiGas Exploration Production JSCKMG:LIKazakhstan 3055.005.31%---0.00-45.83
    KCell JSCKCEL:LIKazakhstan Telecom Carriers808.0027.11%---0.00-52.49
    Kazkommertsbank JSCKKB:LIKazakhstan Banks488.47---0.00-67.72
    Ferrexpo PLCFXPO:LNSwitzerland Steel Raw Material Suppliers186.4919.84%2.070.167.7341.07-53.13-5.20
    Kernel Holding SA0KE:GRUkraine Agricultural Producers972.362.07%---0.0073.18
    Avangardco Investments Public LtdAVGR:LIUkraine Packaged Food79.84--0.340.00-39.02
    MHP SAMHPC:LIUkraine Agricultural Producers982.705.10%-0.79-0.005.26
    BGEO Group PLCBGEO:LNUnited Kingdom Banks1108.293.48%10.042.6326.2034.94-5.1447.15
    KAZ Minerals PLCKAZ:LNUnited Kingdom Base Metals673.04---0.00-58.46

    Index Sector Valuations vs GEM Average

    SectorSector MCap US mnSector MCap Share in TotalGem Sector Share In Total GEMGEM Sector MCAP USmnPayout RatioGEM Payout RatioDiv YieldGEM Div YieldPEPEGEMPE Discount vs GEMNetMarginNetMarginGEMMargin Diff. vs GEM1yr ReturnGEM 1yr Return
    Communications808.07.910.3794505.80.043.327.13.218.213.6-52.5-0.7
    Consumer Staples2034.920.07.5584775.30.038.03.61.828.210.336.012.3
    Energy3055.030.012.6973390.40.040.85.34.412.49.7-45.8-21.0
    Financials3441.533.732.82543065.714.326.08.14.08.98.81.125.720.4-5.3-29.63.2
    Materials859.58.47.6590209.48.927.519.83.12.118.1-88.47.79.82.1-57.3-0.1

    Top 5 Former Soviet States Update Long Picks

    valuestockCountryIndustryMCapUSDmnDividendYieldPEPSNetMarginPctPayoutRatio52wkchangeScore
    BGEO Group PLCBGEO:LNUnited Kingdom Banks1108.293.48%10.042.6326.2034.94-5.1447.15
    TBC Bank JSCTBCB:LIGeorgia Banks494.753.38%6.211.5324.6420.99-16.7423.88
    Ferrexpo PLCFXPO:LNSwitzerland Steel Raw Material Suppliers186.4919.84%2.070.167.7341.07-53.13-5.20
    Kernel Holding SA0KE:GRUkraine Agricultural Producers972.362.07%---0.0073.18
    Avangardco Investments Public LtdAVGR:LIUkraine Packaged Food79.84--0.340.00-39.02

    Former Soviet States Update



    Source: Midlincoln

    Former Soviet States Update vs. RTSI$:IND



    Source: Midlincoln



    Weekly Fund flow into Russia focused funds showed (Previous Week)65.1 USD mn of inflow


    Top 10 Russia Focused Funds by Inflows Last Week
    Fund Namefund flow mn$Total Assets mn$
    MARKET VECTORS RUSSIA ETF (RSX)50.41732.0
    CENTRAL EUROPE RUSSIA AND TURKEY FUND INC/THE (CEE)21.4162.7
    ISHARES MSCI RUSSIA ADR/GDR UCITS ETF (CEBB)13.8166.6
    WOORI RUSSIA EXPLORER SECURITIES INVESTMENT TRUST 1 - EQUITY - C2 (6960183)0.683.1
    JPMORGAN RUSSIA SECURITIES FEEDER INVESTMENT TRUST 1 - EQUITY - C (7737618)0.5193.5
    ISHARES BRIC INDEX FUND (CBQ/A)0.349.3
    JPMORGAN RUSSIA EQUITY INVESTMENT TRUST - MASTER (7737584)0.296.3
    SHINHAN BNPP BONJOUR RUSSIA SECURITIES FEEDER INVESTMENT TRUST H - EQUITY - C5 (0996165)0.230.4
    MIRAE ASSET RUSSIA INDUSTRY REPRESENTATIVE SECURITIES FEEDER INV TRUST 1 EQUITY (1767830)0.123.0
    ISHARES BRIC 50 UCITS ETF (BRIC)0.1163.4

    Top 10 Russia Focused Funds by Outflow Last Week
    Fund Namefund flow mn$Total Assets mn$
    HERMES INVESTMENT FUNDS PLC - HERMES SOURCECAP EUROPEAN ALPHA FUND - S USD AC (HSESUSA)-9.7790.1
    DIREXION DAILY RUSSIA BULL 3X SHARES (RUSL)-0.7185.3
    SCHRODER BRICS SECURITIES MASTER INVESTMENT TRUST - EQUITY (0525317)-0.7517.6
    SHINHAN BNP PARIBAS BONJOUR EASTERN EUROPE PLUS EQUITY INVESTMENT TRUST-MASTER (0663476)-0.318.2
    HSBC BRIC FUND (HSBBRIC)-0.3105.0
    SPDR S&P BRIC 40 ETF (BIK)-0.280.4
    ING RUSSIA FUND - A (LETRX)-0.174.4
    ISHARES MSCI BRIC ETF (BKF)-0.1183.7
    SHINHAN BNPP BONJOUR EASTERN EUROPE PLUS SECURITIES INVESTMENT TRUST H - EQUITY - C5 (0996124)-0.136.8
    NEXT FUNDS RUSSIA RTS LINKED EXCHANGE TRADED FUND (1324)-0.119.0

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    Former Soviet States Update  MidLincoln ResearchMidLincoln.com