Stock Market Review for July 6, 2021 – ForTrader.org Financial Magazine


Market the day before

The week started on a positive note. Trading activity was average despite the weekend in the US. The Mosbirzhi index has renewed its maximum. The growth leaders without news were the shares of Raspadskaya (RASP 245.0, + 12.90%). Among the outsiders were MMK papers (MAGN 59.02, -1.15%). The USD / RUB pair was trading in a range of 73-74.

Market and company news

The oil price reached $ 77 per barrel. The participants in the OPEC + deal could not agree on its further parameters. Ministerial meeting canceled. Until the new terms of the agreement are adopted, the current production limits will be maintained. As consumption grows, the uptrend in oil prices is likely to continue in the coming weeks. By the end of trading on July 9, we forecast the price of Brent in the range of $ 75-80. If the current parameters of the OPEC + agreement are maintained and shale production in the United States grows by 150-250 thousand barrels, the oil deficit by the end of the year will not exceed 100 thousand barrels per day. The above news is mostly positive for gas companies. The situation can become a trigger to reach 300 rubles. shares of Gazprom (GAZP 285.45, -0.10%) this month.

Trading Ideas

Bashneft, ap (BANEP 1 125.5, + 0.27%), spec. purchase, purpose: 1250 rubles. Over the year, the company’s quotes fell by 40% in the absence of fundamental negative. The last week saw the sale of a large number of shares. This is similar to the closing of the positions of a major player. We regard the situation as favorable for a significant rebound in quotes.

Expectations

We expect mixed dynamics. The movements in the Chinese market and the reaction of the main platforms to the events in the PRC will be recouped. Better than the market will be traded papers of the oil and gas segment. Forecast for the USD / RUB pair: range 72.50-73.50. The benchmark for the Moscow Exchange index: 3850-3900 points.

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