Index of the Moscow Exchange, Russian currency, divgap of “Hedhunter”: digest

Mobiri Index

The index of the Moscow Exchange (IMOEX) following the results of the main trading session on Friday, September 25, decreased by 1.67%, to 2273.87 points. The IMOEX2 index, which shows the dynamics of the market including in the evening and morning sessions, ended the day in minus by 1.59%, to 2,274.24 points. Last week IMOEX ended with a growth of 0.08%.

Over the weekend, the Russian indicator showed a slight increase, adding 0.25% over two days to 2,279.86 points.

According to the expert of “BCS World of Investments” Mikhail Seltzer, for the second week in a row, the benchmark closes without significant changes. Attempts to boost growth amid the intensification of the negotiation process have faced sharp kickbacks due to a lack of clear progress and tax negative. On the working weekend, the index closed near 2280 points.

The analyst also adds that local support for the coming days is at the level of 2250 points, and resistance is at 2300 points. The probability of the stock index breaking the last obstacle and accelerating the highs of early autumn and summer so far outweighs.

In general, the week looks like a struggle between two opposing forces, writes the director of strategy of FG Finam Yaroslav Kabakov. On the one hand, high oil, diplomatic activity, a potential reduction in geopolitical tensions, and a dividend calendar create the grounds for a rebound. On the other hand, the rate remains high, the ruble is strong, the budget is under pressure, and corporate histories increasingly require not just good reporting, but very cheap entry prices. Therefore, the baseline scenario is a continuation of broad volatile consolidation, Kabakov predicts.

On the morning of Monday, September 28, IMOEX2, according to 8:00 GMT, grows by 0.26% compared to Friday and by 0.02% compared to the level to the close of trading on Sunday, to 2280.35 points.

Russian currency

In the foreign exchange market, the ruble strengthened at the end of the week: the CNY/RUB pair fell by 0.71% following the results of Friday, dropping to ном12.51.

Positively on the ruble exchange rate could affect the effect of currency sales before the period of payment of taxes by exporters at the end of the month, believes the head of information and analytical content of Alfa-Investments Vasily Karpunin.

Exactly in a week, the Ministry of Finance of the Russian Federation will report on the volume of daily transactions in the foreign exchange market in October. We expect an increase in purchases, which can partially compensate for the inflow of foreign exchange earnings from increased commodity prices. As a result, we now have a neutral view of the ruble in the near future, the expert predicted.

Headhunter's dividend gap

Shares of "Hadhunter" fell by 6.4% in trading on Saturday, September 26, to у2717 per share. The reason for the decline was the dividend gap: for the first half of the year, the company will pay shareholders ие200 per share, which at the closing price of Friday gave a dividend yield of 6.9%.

According to estimates of Alfa-Investments, with neutral sentiment in the market, it can close within 1-3 months. But if sentiment worsens or geopolitical tensions grow, the closure of the gap may take up to six months.

BCS World Investments gives 20 to 60 trading days or up to two calendar months to close the dividend gap. An obstacle to this can be a significant deterioration in sentiment in the Russian stock market. However, the participants of the Russian auction in recent years played a large number of negative events. Therefore, the scenario of a further protracted decline in the shares of Headhunter still looks unlikely, writes Vitaly Manjos, an expert at BCS World of Investments.

Last day of buying shares for dividends

The dividend yield is indicated at prices on the morning of September 28.

Ozone Pharmaceuticals. Dividends per share are .0.49. Payment date is October 13. The yield is 1.08%.

Dividend gap

IMCB: Dividends per share – ы2.74. Payment date is October 12. Headhunter: dividends per share – ы200. Payment date is October 12.

Corporate events

VI.Ru: Board of Directors. On the agenda is the acquisition of ordinary shares of the company. "Rosseti North Caucasus": VOSA. The agenda includes the issue of increasing the authorized capital by placing additional shares.

Other important developments

23rd Annual Meeting of the Valdai Discussion Club (September 28 – October 1). To participate invited: Minister of foreign Affairs of the Russian Federation Sergey Lavrov, Deputy head of the presidential administration Maxim Oreshkin and others.

United Nations General Assembly High-Level Week (September 22-28).