Mon, Jan. 26, 1:21 PM
- The ruble/dollar exchange rate is down to 67.9 after the U.S. and EU threatened Russia with new sanctions in the wake of a new offensive by pro-Russian Ukranian rebels. Meanwhile, S&P has downgraded Russia's debt rating to BB+ (junk status) from BBB-.
- Yandex (YNDX -4%), Qiwi (QIWI -2.6%), VimpelCom (VIP -2%), and MTS (MBT -8.2%) aren't reacting well. Russia's MICEX Index fell 1.8% today. The dollar-based Russia Trading System Cash Index fell 5%.
Mon, Jan. 12, 2:59 PM
- Yandex (YNDX -3.1%), Qiwi (QIWI -6.5%), VimpelCom (VIP -3.1%) and MTS (MBT -4.2%) are following the ruble lower once more. The dollar/ruble exchange rate is currently at 63.05.
- In the news today: 1) Angela Merkel has warned about a lack of progress at a 4-way summit aimed at easing Ukraine tensions. 2) Goldman has cut its 3-month dollar/ruble target to 70 and its 12-month target to 60, citing the impact of low oil prices. 3) The Russian central bank discloses it has respectively spent $76B and €5.4B to prop up the ruble against the dollar and euro. 4) The president of Russia's regional banking association warns "a wave of bankruptcies" could hit the country.
Thu, Jan. 1, 2:19 AM
- Dow: INTC +41%; UNH +35%; HD +28%; CSCO +25%; MSFT +25%.
- S&P 500: LUV +125%; EA +106%; EW +95%; AGN +92%; AVGO +91%.
- Nasdaq: AAL +112%; EA +106%; AVGO +91%; GMCR +78%; ILMN +68%.
Dec. 31, 2014, 12:06 PM
- VimpelCom (VIP -6.1%), MTS (MBT -4.3%), Yandex (YNDX -2.6%), and Qiwi (QIWI -2.4%) are ending what has been a very tough year for nearly any Russia-related investment on a down note.
- The government's statistics ministry stated today 2014 inflation is expected to come in at 11.4% thanks to the ruble's plunge. Food prices are expected to post a 15.4% increase, non-food products an 8.1% increase, and service charges a 10.5% increase. Consumer prices are up 2.6% M/M in December.
- YTD declines: YNDX -58%. QIWI -63%. VIP -68%. MBT -65%.
Dec. 30, 2014, 5:36 PM
Dec. 18, 2014, 12:54 PM
- Russian carrier MTS (MBT +24.7%) has soared on a day Russia's MICEX index rose 4.5%. Rival VimpelCom (VIP +5.7%) and online payments firm Qiwi (QIWI +5%) are also outperforming.
- The ruble has seen relatively modest price swings today after plunging on Monday and Tuesday, and rebounding on Wednesday. The dollar/ruble exchange rate is currently at 61.04.
- Yesterday: Russian tech/telecom stocks rebound
Dec. 18, 2014, 9:14 AM| 9 Comments
Dec. 17, 2014, 1:29 PM
- Battered in recent days as crude oil plunged and took the ruble down with it, Yandex (YNDX +6.3%), Qiwi (QIWI +5%), VimpelCom (VIP +17.9%), and MTS (MBT +9.3%) are rebounding sharply today. Yandex is up 19% from a Tuesday morning low of $15.03.
- Helping the group out: The ruble has rallied after Russia's Finance Ministry began selling foreign currency; Monday's big rate hike is undoubtedly also playing a role. The ruble/dollar exchange rate now stands at 60.6.
Dec. 17, 2014, 12:46 PM
Dec. 16, 2014, 9:35 AM
- Yandex (YNDX -11.6%), Qiwi (QIWI -11.9%), VimpelCom (VIP -6.8%), and MTS (MBT -11.5%) continue to get battered as the ruble continues plunging in spite of the Russian central bank's decision to hike its key rate to 17%.
- The ruble/dollar exchange rate has soared to 71.9. Though up on a ruble basis, Russia's MICEX index is down sharply on a dollar basis.
- Yesterday: Yandex, Qiwi, VimpelCom, MTS slammed thanks to ruble's crash
Dec. 15, 2014, 11:50 AM
- The ruble is down over 6% today against the dollar amid ongoing worries about weak oil prices, sanctions, and capital flight. Yandex (YNDX -8.2%), Qiwi (QIWI -12.4%), VimpelCom (VIP -8.6%), and MTS (MBT -11.2%) are all seeing huge losses.
- Yandex rallied on Friday after Google announced it's shutting down its Russian engineering office. With the ruble/dollar conversion rate now at 62:1 (up from less than 40:1 earlier this year), Yandex trades for 21x 2015E EPS.
Dec. 8, 2014, 10:37 AM
- Russia's MICEX Index is down 2.9%, as worries about plunging oil prices (coming in the wake of sanctions placed earlier this year) continue taking a toll. WTI crude is down $1.46 today to $64.38, after Morgan Stanley slashed its oil price forecasts.
- Yandex (YNDX -7.3%), Qiwi (QIWI -6.5%), VimpelCom (VIP -5%), and MTS (MBT -5.5%) aren't faring well in U.S. trading.
- ETFs: RSX, RUSL, RUSS, ERUS, RBL
Nov. 12, 2014, 9:48 AM
Sep. 29, 2014, 5:36 PM
Sep. 16, 2014, 6:59 AM
- Although a sale price as high as ~C$300M ($270M) had been rumored earlier, Reuters reports that VimpelCom (NASDAQ:VIP) and Egypt's Global Telecom will sell their stake in wireless carrier Wind Canada to Globalive Capital for C$135M ($122M).
- The proceeds of the sale will go to Vimpelcom, in repayment of part of the debt owed to the company.
- Previously: VimpelCom reportedly nears deal to sell Wind Mobile stake for ~$270M
Sep. 15, 2014, 5:43 PM
- VimpelCom (NASDAQ:VIP) is close to selling its stake in Canadian wireless carrier Wind Mobile Canada to Toronto-based Globalive Wireless Management for ~C$300M ($270M), with an announcement expected as soon as tomorrow, according to various reports.
- A deal would cap VIP's struggle to exit the Canadian market following a lengthy regulatory spat over Canada's foreign investment rules.
- A sale also would boost the Canadian government’s effort to create a fourth national wireless carrier to help foster competition and reduce mobile phone rates; the three biggest carriers, Rogers Communications (NYSE:RCI), BCE and Telus (NYSE:TU), together control 90% of the market.
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