The benchmark for the Moscow Exchange index: a corridor of 3550-3600 points


Market the day before

A moderate decline continued. The growth leaders were Yandex NV (YNDX 4,996.2, + 3.32%). Shares of Tatneft (TATNP 459.0, -7.57%) were again among the outsiders. The USD / RUB pair spent the session close to 74.50 amid further growth in oil prices.

Market and company news

Moscow Exchange (MOEX 177.26, + 0.25%), recommendation “buy”, target: 230 rubles, will report for the 1st quarter. The consensus estimates the total revenue of the company at the level of 12.8 billion rubles. with a profit of 6.8 billion rubles. The growth rates of turnover and customer inflow remain high, so the interest in shares is not decreasing either. The number of private investors has reached 11 million. The range of traded instruments is also increasing: on May 4, the list of foreign shares will expand. At the end of the year, turnover may increase by 15%, while more significant growth is possible in case of increased volatility in the markets.

Trading Ideas

Yandex NV (YNDX 4 985.4, + 3.11%), spec. purchase, purpose: 5 500 rubles. The positive reaction of the market is due to strong reporting and news about the purchase of the bank, the effect of which may be noticeable already in the 3rd quarter. Also, the IT giant intends to expand its activity in the fintech market.

Expectations

We expect mixed dynamics. The external background is weakly positive. The leaders of growth will be the papers of banks and the oil and gas sector. The USD / RUB pair will trade within 74.10-75.10. The reference point for the Moscow Exchange index: a corridor of 3550–3600 points.

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