— This is the script of CNBC's news report for China's CCTV on March 5, Wednesday.
Welcome to the CNBC Business Daily.
With a detente in Ukraine, CNBC's Seema Mody finds out which multinational corporations have been most affected by the stand off:
Let's start with the three biggest Russian ADRs.
Energy player Gazprom, Oil giant Lukoil, and, Russia's largest bank Sberbank
These stocks have been under pressure on concerns that rising tensions between ukraine and russia will impact business operations.
In fact, Goldman Sachs today reducing its revenue forecasts for Gazprom writing that among Russian energy companies, Gazprom is the only one with direct exposure to Ukraine.
Now in terms of which Russian stocks look most attractive, analyts seem to be bullish on Russia's internet space, in spite of the wild ride of the last two days.
Yandex, Russia's Google, staging a partial comeback today. Gene Munster of Piper Jaffray telling me that he's maintaining his "buy" rating on Yandex. Munster says Yandex is capitalizing on the explosive growth in Russia's internet market.
Analysts also seem to be positive on Mail.ru, which operates some of Russia's social networking sites.
Goldman writing that Mail.ru is well positioned to benefit from growing internet engagement and monetization in Russia.
Another company that stands to benefit from Russia's growing internet market is Qiwi, the PayPal of Russia, which listed on the Nasdaq last year back above its 50-day moving average which market technicians think is a bullish sign.
Lastly, quick note - there are three S&P 500 companies with breakout sales in Russia, according to Thomson Reuters - ll less than 10% of their total revenue.
Those names - Pepsi, Alcoa and General Dynamics. Back to you.
CNBC's Seema Mody there.
I'm Sri Jegarajah, reporting from CNBC's headquarters in Singapore. Thank you for watching.
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