Page 80 - RUSRptSept18

Polyus BUY 4,469 290 6.50% 2.9
Transneft pref. SELL 162,600 10,517 6.50% 3.4
Gazprom HOLD 144 8.04 5.60% 46.4
Rosneft BUY 419 23.4 5.60% 23.2
Gazprom Neft BUY 328 18.2 5.50% 1
Polymetal HOLD 545 30.1 5.50% 1.6
LUKOIL BUY 4,452 237 5.30% 45.4
NCSP - 6.42 0.31 4.90% 0.1
Rusagro BUY 667 31.3 4.70% 0.2
RusGrids - 0.77 0.036 4.70% 1.4
Inter RAO - 4.14 0.193 4.70% 6.6
Aeroflot BUY 123 5.61 4.60% 10.1
Acron - 4,540 190 4.20% 0.2
PhosAgro SELL 2,284 92 4.00% 1
X5 Retail Group (DR) BUY 1,670 64 3.80% 16.7
Magnit BUY 4,128 140 3.40% 20.3
TMK HOLD 70.4 2.28 3.20% 0.3
O'Key BUY 125 3.76 3.00% 0.1
Surgutneftegas SELL 29 0.7 2.40% 6.5
NOVATEK BUY 924 20.7 2.20% 11.3
Source: BCS GM
8.3.3 ECM news
The state-controlled oil major R osneft became Russia's most valuable company for the second time in its history , on August 8 opening with a 2% gain in Moscow Exchange on strong second quarter results and pushing capitalisation to RUB4.534 trillion ($71bn). Rosneft narrowly beat Russia's most valuable bank Sberbank with RUB4.532 trillion capitalisation. Rosneft posted strong second-quarter financials, revealing a profit that in a single quarter was almost as much as the company earned in all of 2017. VTB Capital said on August 8 that looking forward foreign currency gains might boost net income and, hence, Rosneft's dividends. "As a result, the company’s DY [dividend yield] could reach 7% for 2018, which would make Rosneft one of the most generous dividend payers in the sector," the bank argues, noting that the stock reacted positively to the results. In the meantime in the second quarter Rosneft also continued to deleverage and moderate its capital expenditure, which along with $2bn share buyback was its recent pledge to investors .
Rosneft will be guided by the price of the company's securities on April
80 RUSSIA Country Report September 2018 www.intellinews.com