Metallurgists’ Papers Lead in the Stock Market

  • Moscow Exchange Index: 3605 (+ 0.2%)
  • RTS Index: 1492 (-0.3%)

At the opening of a new trading week, the Moscow Exchange index adds 0.2%, the RTS index is in the red by 0.3% against the background of the weakening of the ruble. Steel shares outperform the market again.

Brent oil prices at the start of the main session are losing 0.2% and are close to $ 66.6 per barrel. In part, this can be attributed to Friday’s Baker Hughes statistics on the growth in the number of active drilling rigs in the United States. Against the backdrop of weak oil, the sectoral index of oil and gas looks slightly worse than the market.

The USD / RUB pair is growing by 0.4% and is at 75.8. The RGBI government bond index is down 0.1%.

After Friday’s rally, metallurgists continue to grow. Severstal, MMK, NLMK added more than 1%. From a technical standpoint, the stock is overheated. This suggests that despite the continued fundamental attractiveness, there are high risks of correction in overbought securities.

The shares of Etalon look worse than the market (-0.1%) after the publication of operating results for the first quarter and news on the placement of up to 88,487,391 ordinary shares, which is 30% of the total number of issued shares. The price per new share (or GDR) is $ 1.7.

Raspadskaya shares lost 1.1% – after Friday’s growth of more than 15% on the news about the approval of the board of directors of EVRAZ to study the issue of considering the strategic advantages and the potential structure of the separation of the coal business.

Norilsk Nickel’s operational report is expected to be released at 13:00 Moscow time. A meeting of Rostelecom’s board of directors will also take place today. The agenda includes the issue of dividend policy and strategy 2021–2025.

Leaders: Headhunter (+ 2.6%), Detsky Mir (+ 1.4%), En + (+ 1.3%), Petropavlovsk (+ 1.3%), Polymetal (+ 1.3%)

Outsiders: Raspadskaya (-1.1%), Gazprom (-0.6%), Rosneft (-0.6%), Mechel-up (-0.4%), Tatneft (-0.4%)

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