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    GAZP   RU0007661625

PUBLIC JOINT STOCK COMPANY GAZPROM

(GAZP)
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Turkish lira leads FX losses ahead of U.S. payrolls

10/08/2021 | 04:48am EST

* EM FX set for fifth straight weekly loss

* Lira slumps to new record low

* Chinese property bonds, stocks slump

Oct 8 (Reuters) - Most emerging market currencies fell on Friday ahead of key U.S. payrolls data, while Chinese stocks surged after a week-long holiday, even as concerns over a property market debt default persisted.

Turkey's lira slipped 1% to a record low of 8.9650 against the dollar, and was the worst performing emerging market (EM) currency on the day after a Reuters report suggested that President Tayyip Erdogan was losing confidence in central bank governor Sahap Kavcioglu, less than seven months after he sacked his predecessor.

Erdogan had gone through a string of central bank presidents over the past two years in a bid to enforce his unorthodox view that high interest rates cause inflation, which has seen prices spike, while pushing the lira to record lows.

Broader EM currencies slipped as investors adopted a cautious stance ahead of U.S. payrolls data later in the day. A stronger-than-expected reading could affirm the Federal Reserve's faith in the U.S. economy, and push the bank into tightening policy earlier than signalled.

MSCI's index of emerging market currencies fell 0.2%, and was set for a fifth straight week of losses as concerns over sluggish economic growth and debt problems in China saw investors pull out of risk.

U.S. Treasury yields and the dollar strengthened ahead of the announcement, while a temporary raising of the U.S. government's debt ceiling also helped sentiment.

"The U.S. employment report for September could prove determinant on whether the Fed will begin tapering its quantitative easing (QE) purchases next month," Charalambos Pissouros, head of research at JFD Group wrote in a note.

"(A more decent report than August) may encourage market participants to add to bets over a November QE tapering by the Fed, and perhaps even bring forth their expectations over when the first interest rate hike could take place."

Chinese stocks surged after a week-long holiday, helped by encouraging service sector data and easing political tensions with the United States.

But bonds and shares issued by Chinese property firms slumped amid few cues on how regulators aim to contain the contagion from the debt problems of the country's second biggest developer, China Evergrande Group.

Russia's rouble slipped 0.4%, while stocks rose 0.2%. Heavyweight oil and gas producer Gazprom's shares slipped 1% as it was forced to halt operations at its Amur gas processing plant, due to a fire.

Most central European currencies fell slightly to the euro. Expectations of interest rate increases in the region rose as data showed inflation on the rise.

For GRAPHIC on emerging market FX performance in 2021, see http://tmsnrt.rs/2egbfVh

For GRAPHIC on MSCI emerging index performance in 2021, see https://tmsnrt.rs/2OusNdX

For TOP NEWS across emerging markets

For CENTRAL EUROPE market report, see

For TURKISH market report, see

For RUSSIAN market report, see (Reporting by Ambar Warrick Editing by Robert Birsel)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AFFIRM HOLDINGS, INC. 10.62% 122.73 Delayed Quote.0.00%
AUSTRALIAN DOLLAR / EURO (AUD/EUR) 1.08% 0.6317 Delayed Quote.-1.46%
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) 0.98% 0.7119 Delayed Quote.-7.63%
BRITISH POUND / EURO (GBP/EUR) -0.08% 1.1745 Delayed Quote.4.64%
BRITISH POUND / US DOLLAR (GBP/USD) -0.16% 1.3236 Delayed Quote.-2.90%
CANADIAN DOLLAR / EURO (CAD/EUR) 1.09% 0.702104 Delayed Quote.7.23%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.91% 0.79055 Delayed Quote.-0.62%
CHINA EVERGRANDE GROUP 1.10% 1.83 End-of-day quote.-87.72%
EURO / US DOLLAR (EUR/USD) -0.14% 1.1266 Delayed Quote.-7.45%
INDIAN RUPEE / EURO (INR/EUR) 0.09% 0.011762 Delayed Quote.4.86%
INDIAN RUPEE / US DOLLAR (INR/USD) -0.03% 0.01326 Delayed Quote.-2.93%
LONDON BRENT OIL 2.18% 75.16 Delayed Quote.37.62%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.55% 0.6787 Delayed Quote.-5.89%
PUBLIC JOINT STOCK COMPANY GAZPROM 2.12% 342.6 End-of-day quote.61.08%
PUBLIC JOINT STOCK COMPANY GAZPROM NEFT 0.49% 525.5 End-of-day quote.65.80%
US DOLLAR / EURO (USD/EUR) 0.14% 0.887626 Delayed Quote.8.05%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) -0.03% 73.9772 Delayed Quote.0.47%
US DOLLAR / TURKISH LIRA (USD/TRY) -2.19% 13.4925 Delayed Quote.84.49%
WTI 2.83% 71.71 Delayed Quote.37.48%
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Financials (USD)
Sales 2021 139 B - -
Net income 2021 30 903 M - -
Net Debt 2021 41 740 M - -
P/E ratio 2021 260x
Yield 2021 0,18%
Capitalization 8 101 B 109 B -
EV / Sales 2021 58,4x
EV / Sales 2022 54,4x
Nbr of Employees 477 600
Free-Float 50,5%
Chart PUBLIC JOINT STOCK COMPANY GAZPROM
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Public Joint Stock Company Gazprom Technical Analysis Chart | GAZP | RU0007661625 | MarketScreener
Technical analysis trends PUBLIC JOINT STOCK COMPANY GAZPROM
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 11
Last Close Price 342,60 $
Average target price 5,86 $
Spread / Average Target -98,3%
EPS Revisions
Managers and Directors
Alexei Borisovich Miller Deputy Chairman & Chairman-Management Board
Viktor Alexeevich Zubkov Chairman
Denis Vladimirovich Fedorov Head-Marketing & Administration Department
Yuri Stanislavovich Nosov Head-Administration Department
Timur Askarovich Kulibayev Independent Director
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