The forecast for the Moscow Exchange index for today: 3300-3350 points


Market the day before

The correction has intensified. The Moscow Exchange Index closed at a two-week low. The leaders of the decline were Mechel shares (MTLR 72.50, -4.56). TCS shares (TCSG 4,170, + 4.22%) were among the outsiders among the most liquid securities. The USD / RUB pair jumped above 75 amid falling oil and metals prices.

Market and company news

The market continues to correct. The decline in oil and metal prices, as well as the negative dynamics of securities of high-tech companies in the United States contribute to the correction of the Russian stock market. We believe that the ruble will remain stable, and by the end of the week we expect the rate to decline to 72-73, provided that the oil price remains above $ 54 per barrel. At the same time, the stock market may correct, the target for the Moscow Exchange index is 3300 points.

Lenta (LNTA 275.75, -1.45%) is to publish operating results for the fourth quarter and full year 2020. The sales volume could have amounted to 110 billion rubles. The company opened at least five major stores between October and December. Although traffic in the hypermarket segment continues to stagnate, judging by the reports of competitors, Lenta does not intend to curtail this direction. The volume of the online segment could exceed 2 billion rubles. Strong LFL results may support quotes, which are adjusted YTD.

LSR Group (LSRG 933.8, + 1.54%) will release production reports. Sales in the second half of the year could exceed 45 billion rubles. against the background of rising prices and physical volumes of sales. In our opinion, demand for real estate will increase amid low mortgage rates, a weakening ruble and expectations of a correction in the stock market. Strong results and forecasts will also drive up the developer’s quotes.

Trading Ideas

Mail.Ru (MAIL 1 949.2, -0.08%), spec. purchase, purpose: 950 rubles. From a technical point of view, a rebound to the upper border of the downtrend channel of RUB 2150 is likely.

Expectations

We expect a decrease within 1%. The technical picture is in favor of the continuation of the correction. Forecast for the USD / RUB pair: range 74.50-75.00. The benchmark for the Moscow Exchange index: a range of 3300-3350 points.

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