The forecast for the Moscow Exchange index for today: 3350-3400 points


Market the day before

The trading dynamics were multidirectional. The growth leaders among the most liquid were Russneft shares (RNFT 256.8, + 8.08%). The outsiders were securities of Alrosa (ALRS 100.53, -2.76). The USD / RUB pair fluctuated in the range of 74.50-76.

Market and company news

The USD / RUB rate jumped on a high trading volume. Foreign policy expectations were played out speculatively. However, the sanctions risks are insignificant. The oil price rose to $ 55.80. We expect that on January 26 the dollar / ruble rate will drop to the range of 74-75, and by the end of the week it will go down to 73-74.

MMK (MAGN 54.35, -1.66%) is to publish production reports. We expect that the volume of iron production in the fourth quarter amounted to about 2.4 million tons, and steel – 2.9 million tons, remaining at the July-September level. Production volumes increase with increasing demand in industry and construction, as well as with the completion of equipment modernization. The period of production cutbacks fell well during the acute phase of the crisis, so MMK avoided a large-scale overstocking of products.

Trading Ideas

Mail.Ru (MAIL 1 958.2, + 0.40%), 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 multidirectional dynamics. The technical picture is in favor of the continuation of the correction. The course of trading will be affected by the dynamics on external sites, where the reporting of high-tech corporations will be recouped. Forecast for the USD / RUB pair: range 74.00-75.00. The benchmark for the Moscow Exchange index: a range of 3350-3400 points.

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