Expectations for the Moscow Exchange Index: 3500-3550 points range


Market the day before

On April 21, negative dynamics prevailed. Its main reason was the decline in external markets. Raspadskaya shares performed better than the market (RASP 231.16, + 4.20%). Among the outsiders were again the securities of TCS Group (TCSG 4,259.0, -3.76%). The USD / RUB pair was trading in the range of 76.00–77.00.

Market and company news

NLMK (NLMK 266.26, + 1.75%) will report for the 1st quarter under IFRS. Expectations for revenue – $ 3,001 million, for EBITDA – $ 1,116 million, for profit – $ 600 million. At the same time, it is predicted that these indicators for the year will amount to $ 12.360 million, $ 4200 million and $ 2700 million, respectively. However, due to the rise in prices for steel products, we do not rule out a possible increase in these forecasts in the near future, as was the case with other large metallurgical companies.

Trading Ideas

LUKOIL (LKOH 5,934.0, + 0.64%), spec. purchase, purpose: 6,700 rubles. LUKOIL’s quotes lagged behind the dynamics of other securities of companies in the oil and gas sector. However, in the future, the commodity giant shares are likely to grow due to the increase in the price of black gold and the approaching automotive season.

Expectations

We expect mixed dynamics. Correction in foreign markets may resume. The nearest support level for the Moscow Exchange Index is 3450 points. Expectations for this benchmark: 3500–3550 points range. Forecast for the USD / RUB pair: the corridor 76.50-77.50. The shares of telecoms and metallurgical companies will act as security papers.

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