The benchmark for the Moscow Exchange index: 3650-3700 points.


Market the day before

The growth was replaced by a correction. The dynamics of trading was set by the external background and the dividend factor. The growth leaders among the most liquid were the Ozon securities that fell the day before (OZON 4 139.5, + 2.95%). The reason for this was the expectation of the inclusion of shares in the MSCI index. The outsiders due to the closing of the dividend register were shares of Sberbank (SBER 306.01, -4.45%). The USD / RUB pair was trading near the 74 mark.

Market and company news

The stock market showed a technical correction yesterday. The background for it was provided by the negative dynamics in the US and the drop in Sberbank quotes. However, there is no panic among bidders. The US Department of Energy forecasts oil prices in the region of $ 62 per barrel, which is higher than conservative expectations in Russia. Investors, in turn, are dumping stocks of high-tech companies, many of which look clearly overbought due to heightened fears of accelerating inflation. The entry of the economy into the cycle of inflationary growth is positive for the Russian stock market, since in this case the shares of banks and commodity companies will continue to rise in price.

Trading Ideas

Aeroflot (AFLT 66.9, + 1.92%), spec. purchase, purpose: 74 rubles. We expect the company to open sales and increase the number of flights, including overseas destinations in the summer. Traffic in the third quarter could hit a record with the lifting of strict coronavirus restrictions in Europe. The resumption of flights to southern European countries may be announced in the coming week.

Expectations

We expect mixed dynamics. Forecast for the USD / RUB pair: range 73.50-74.50. The benchmark for the Moscow Exchange index: 3650-3700 points.

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