Dividend cutoffs created additional pressure on the stock market

  • MOEX Index: 3850.75 (-0.2%)
  • RTS Index: 1647.98 (-0.52%)

The Russian market declines at the opening of Friday trading. The external background is rather neutral. But we still see a minimal decline in S&P 500 futures, a 0.3% retracement in oil prices and an almost 2% decline in indices in China and Hong Kong. At the same time, the European FTSE and DAX are up 0.1% in the morning.

In the first minutes, Russian indices are under pressure of clearing away dividends in a number of securities, in particular, in the heavyweight LUKOIL shares (-2.6%). Also falling in price after cutoffs: StavrEnSb-up (-10%), TGK-1 (-7.5%), Mosenergo (-7.4%), Sovcomflot (-4.5%), PhosAgro (-2%).

Oil prices are correcting in the morning, but yesterday, on the day of the OPEC + meeting, they rose and exceeded $ 76.5 at the moment. The members of the alliance could not come to an agreement on actions for the coming months, however, according to media reports, they are considering extending the deal until the end of 2022. Today, negotiations will continue.

The rate of the USD / RUB pair is trading at 73.66 (+ 0.36%).

Among the heavyweights, apart from LUKOIL, Novatek looks weak (-1.1%). Gazprom is falling in price by half a percent. At the same time, Sberbank is showing zero dynamics.

Today market participants expect reports on the US labor market for June, the number of drilling rigs, and the US trade balance. After Friday trading, American investors are leaving for a long weekend. Bidding on Monday will not be on the NYSE and NASDAQ to mark Independence Day.

Leaders: Mother and Child GDR (+ 3.8%), RusAkva (+ 1.5%), Airplane (+ 1%), Mechel-JSC (+ 0.7%)

Outsiders: StavrEnSb-up (-10%), TGK-1 (-7.5%), Mosenergo (-7.4%), Sovcomflot (-4.5%), LUKOIL (-2.6%)

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