The benchmark for the Moscow Exchange index for today: 3400-3450 points


Market on the eve

Negative dynamics prevailed. The Moscow Exchange Index dropped below 3400 points. The reason was the external background. The growth leaders after the publication of the report were the shares of Lenta (LNTA 266.1, + 3.74%). TCS securities (TCSG 3 729, -11.06%) became outsiders among the most liquid. The USD / RUB pair fell within the range of 73.50-74 amid rising oil prices.

Market and company news

Polyus (PLZL 14,089.5, + 1.15%, target: RUB 18,900, recommendation: “buy”) will report under IFRS. The consensus forecast foresees revenues of $ 5 billion against the background of a rise in the price of gold with EBITDA at $ 3.5 billion and profit of $ 2.4 billion. Strong demand for defensive assets supports the quotes of gold and Polyus shares. In this regard, we do not expect their significant correction until the end of the current quarter.

VTB Bank (VTBR 0.03724, -0.27%, target: RUB 0.059, recommendation: “buy”) will publish its IFRS results. The consensus assumes a profit of about 72 billion rubles. At the same time, it is possible that the actual results will be better than the forecasted ones. Earlier, profit growth was assessed as higher. The Bank remains fundamentally undervalued despite the absence of systemic risks of capital loss.

Trading Ideas

Alrosa (ALRS 98.30, + 0.33%, spec. Buy, target: 105 rubles. An upward movement is forming with the target of 105-106 rubles. Stop-out: 95 rubles.

Expectations

We expect multidirectional dynamics. There is no single direction in foreign markets. Shares of the IT sector are falling, oil quotes are growing, which supports the market and the ruble. Forecast for the USD / RUB pair: range 73.50-74. The reference point for the Moscow Exchange index: the corridor 3400-3450 points.

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