Banks and oil and gas sector to become leaders of growth at Moscow Exchange


Market the day before

A moderate decline continued. The reason for this was the correction on the external markets. The leaders of growth were the shares of TMK (TRMK 77.16, + 4.67%). Shares of Tatneft (TATNP 528.0, -7.12%) traded worse than the market on the news. The USD / RUB pair traded in the 74-75 range amid rising oil prices to $ 67 per barrel.

Market and company news

Mail.Ru (MAIL 1,717.4, -0.28%) will report for the first quarter. The consensus estimates the company’s revenue at 28 billion rubles. with EBITDA in the amount of 6 billion rubles. and a profit of 0.4 billion rubles. At the end of the current year, revenue is forecast to increase by 27% to RUB 128 billion. Yandex’s financial statements released the day before were generally in line with expectations. It is possible that the financial results of Mail.Ru this year will turn out to be significantly higher than forecasted, but the likelihood of this will become visible based on the results of the first quarter. In terms of main multiples, Yandex and Mail.Ru shares are comparable, but the latter does not look overvalued. We are counting on the growth of its quotations to 2000 rubles. in the current quarter.

Trading Ideas

Sberbank, JSC (SBER 298.21, -0.10%), spec. purchase, purpose: 305 rubles. Sberbank shares are ready to storm the psychologically significant mark of 300 rubles. The group’s investments in non-banking services will exceed 300 billion rubles, as a result of which it will become the largest ecosystem leaving no chance for competitors.

Expectations

We expect mixed dynamics. Foreign platforms switched to consolidation mode. The leaders of growth at the Moscow Exchange will be securities of banks and the oil and gas sector. The USD / RUB pair will trade within 74.10-75.10. On the local market, the focus is on corporate reporting, as well as on the day of the investor of Gazprom.

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