Moscow Exchange Index benchmark: 3650-3700 points


Market the day before

The week started on a positive note. The Moscow Exchange Index updated its maximum for the fourth time in four days. This was favored by the external background. The growth leaders among the most liquid were securities TCS (TCSG 4,811.2, + 6.35%). Ozon shares (OZON 4,051, -5.43%) were among the outsiders. The USD / RUB pair was trading near the 74 mark.

Market and company news

Non-ferrous metallurgy stocks have the greatest chances of growth in the short term. We expect the continuation of the “bullish” trend in the securities of metallurgists and oil companies. Non-ferrous metal prices continue to rise steadily amid global economic recovery and a weakening dollar. The increase in demand is also due to the soft monetary policy of the regulators. Nickel and aluminum prices are especially likely to rise, the demand for which is increasing most noticeably. At the same time, the ruble does not have significant potential for strengthening, which means that securities of metal producers will continue to rise in price.

Trading Ideas

Aeroflot (AFLT 66.9, + 1.92%), spec. purchase, purpose: 74 rubles. We expect the company to resume sales and increase the number of flights in the summer, including on foreign routes. Traffic in the third quarter could hit a record if strict epidemic restrictions in Europe are lifted.

Expectations

We expect mixed dynamics. The next update of the maximum is unlikely, the movement of quotations will depend on the situation on external commodity and stock markets. Forecast for the USD / RUB pair: range 73.50-74.50. The reference point for the Moscow Exchange index: 3650-3700 points.

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