The Moscow Exchange index will spend the day within 3450-3500 points


Market on the eve

Trading dynamics were mixed. The indices have dropped to their lowest since early March. The growth leaders among liquid securities were LSR shares (LSRG 818.6, + 1.61%). The outsiders on the dividend news were En Plus (ENPG 770, -3.75%). The USD / RUB pair was trading near the 76 mark.

Market and company news

Major benchmarks near important technical levels. The Moscow Exchange index reached the 50-day average, the RTS was near the previous minimum. Their quotes are capable of rebounding from these levels with appropriate drivers, and the chances of a decline are less. There are no notable events on the local market. The reporting season is almost over and the dividend season will not be overly active this year.

The dynamics on domestic stock markets will be determined by the external situation. We do not exclude that the Russian market will be able to win back the fall over the previous trading day. The news background is improving, the incidence of COVID-19 in the United States and individual European countries is declining. By the fourth quarter, significant recovery in air traffic is forecasted. And the summer tourist season this time, perhaps, will not be disrupted.

The incident in the Suez Canal, which delayed 12% of the world’s oil supplies, supports its quotes, which, in turn, favors the growth of the Russian market.

Trading Ideas

Gazprom (GAZP 224.70, + 0.43%), spec. purchase, purpose: 240 rubles. From a technical point of view, a rebound to the upper border of the ascending channel is likely. An improvement in the news background is not excluded, in particular, an increase in prices and an increase in demand for gas after the weakening of quarantine in Europe.

Expectations

We expect a growth of about 1%. The external background is calm. Forecast for the USD / RUB pair: range 75.00-76.00. The Moscow Exchange index is likely to spend the day within 3450-3500 points.

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