Index Mosex, currency operations of the Ministry of Finance, divgep BSPB: digest

Mobiri Index

The Russian stock market ended neutrally last week. The index of the Moscow Exchange (IMOEX) following the results of the main trading session on Friday, October 2, decreased by 0.11%, to 2277.21 points. The IMOEX2 index, which shows the dynamics of the market including in the evening and morning sessions, ended the day in a plus of 0.05%, to 2279.75 points.

The Russian stock market continues to remain in a state of uncertainty, moving in a narrow range, said Finama analyst Christina Gudym. Market participants are closely following the news - possible progress on the Ukrainian settlement or changes in tax policy may become triggers for further movement, the expert believes.

In the coming sessions, according to Said Kerimkhanov, an analyst at Digital Broker, the index of the Moscow Exchange will mainly fluctuate in the range of 2250-2,300 points. The reduction of geopolitical uncertainty and the growth of oil prices can contribute to the consolidation above the upper limit, the expert said.

On the morning of Monday, October 5, IMOEX2, according to 8:17 MSK, grows by 0.43% to the close of evening trading on October 2, to 2289.68 points.

Foreign exchange operations of the Ministry of Finance

On Monday, October 5, the Ministry of Finance will announce the volume of currency transactions under the budget rule for October.

From September 7 to October 6, the Ministry of Finance buys currency and gold under the budget rule for у55.6 billion. Daily purchases amount to Е2.5 billion.

In addition, the Central Bank simultaneously daily until the end of the year sells currency for у0.58 billion. Thus, net purchases by the monetary authorities in September-early October amount to х1.92 billion per day.

According to the forecast of analysts of T-Investments, the volume of foreign exchange transactions in October will amount to 9-14 billion a day after 2.5 billion a day in September.

Dividend Gap of Bank St. Petersburg

Ordinary shares of Bank St. Petersburg collapsed at the start of trading on Saturday, October 3, against the backdrop of a dividend gap. Over the two days of the weekend, the fall was about 7%, quotes fell to у253.17 per paper.

The Bank will pay dividends of ую19.17 per ordinary share and ую0.22 per preferred share to shareholders. At closing prices on October 2, this gave a dividend yield of 7 and 0.68%, respectively.

To close such a technical gap can take up to two months, that is, by the end of the season, believe in BCS World of Investments. However, the broker warns about the risks of the company. This is the realization of large credit risks in the corporate loan portfolio, as well as stronger rate-cutting pressure on net interest income.

Dividend gaps

Bank St. Petersburg: dividends per ordinary share - ую19.17, preferred - ую0.22. Payment date is November 10.

Corporate events

Glorax: VOSA on reorganization by joining NTVO LLC and approving a number of major transactions. NKHP: the Board of Directors will decide on the company’s participation in JSC Buturlinovskiy mill.

Other important developments

The Ministry of Finance will publish data on the volume of purchase / sale of currency and gold in October - 12:00 GMT. Russia: index of business activity in the service sector for September - 9:00 GMT. The Bank of Russia launches licensing of crypto exchanges and crypto depositories.