Index of the Moscow Exchange, shares of KuibyshevAzot, Tatneft, gas prices: digest

Mobiri Index

The Russian stock market on Tuesday, October 13, showed a noticeable increase. The index of the Moscow Exchange (IMOEX) at the end of the day increased by 1.04%, to 2418.82 points. The IMOEX2 index finished trading in the plus by 1.57%, to 2426.49 points. In the course of trading, the Mosbirzhi index updated the maximum since June 19. The Russian stock market is supported by expectations of a reduction in geopolitical tensions and high energy prices.

Indices of the Moscow Exchange and RTS by the end of Tuesday’s session accelerated growth and, apparently, received support both from hopes for an improvement in the geopolitical background in the Ukrainian conflict after Western media reports about the upcoming peace agreement, and from statements by Deputy Chairman of the Central Bank Zabotkin about a lower price growth in September compared to the previous two months, said the analyst of Veles Capital Elena Kozhukhova. The next meeting of the Central Bank will be held on October 23, and the softening of the tone of the regulator may be an additional positive for stocks.

On the morning of Wednesday, October 14, the index of Moscow, according to 8:12 MSK, added 0.1% to the closing of the main trading of the previous day, to 2428.5 points.

KuibyshevAzot shares

Shares of KuibyshevAzot yesterday showed the best result in the Russian market. Following the results of trading, ordinary shares of the company rose by 11.56%, preferred shares by 10.8%.

Quotes of the company rose sharply after the company reported that at a meeting on October 13, the board of directors will consider the distribution of profits of previous years. Investors bought securities of KuibyshevAzot in anticipation of dividends.

Tatneft shares

Shares of "Tatneft" fell into the outsiders among the companies included in the index of the Moscow Exchange. Following the results of trading, ordinary shares of the company fell by 2.43%, preferred shares by 2.18%.

The reason for the decline in quotations was the dividend gap. The company will pay shareholders м32.88 per share, at the price on October 12, this gave a yield of 4.85% on ordinary shares and 5.1% on preferred shares.

However, writes the expert of “BCS World of Investments” Mikhail Zeltzer, quotations of “Tatneft” should have fallen by 4.2% net. “That is, taking into account payments, the paper did not fall, but even grew,” the expert concludes.

Vitaly Manjos, an expert at BCS World of Investments, believes that Tatneft can close the dividend gap in 10-40 trading days or a little less than a month and a half.

“Tatneft has a strong corporate case and a transparent dividend policy, which assumes fairly high dividends over the next 12 months,” he explains.

In addition, the company has a stable business model, while negative external factors are not related to the issuer, but to the oil industry as a whole, Manjos added.

Gas prices in Europe

Exchange gas prices in Europe have updated their highs since December 2022. On Tuesday, October 13, the value of November futures at the TTF hub in the Netherlands increased by 3.65% and at its peak reached €87.43 per MWh, or $ 1027.35 per 1,000 cubic meters, taking into account the current rate in the forex market.

According to the results of bidding, gas rose by 3.4%, to €87.223 per MWh, or $1025.83 per 1,000 cubic meters.

The Wall Street Journal links the rise in gas prices to Europe’s concerns about low storage stocks and supply shortages amid a long-running conflict in the Middle East.

Other important developments

The Bank of Russia will publish reviews “Regional Economy: Commentaries of the Bank of Russia’s Main Directorates”, a macroeconomic survey of the Central Bank, monitoring of enterprises and a bulletin “What Are Trends Talking About”; the Ministry of Finance will hold auctions for the placement of OFZ-26251 and OFZ-26245; the Forum “Russian Energy Week – 2026”, day one; the VTB Investment Forum “RUSSIA ZOWET!” in Kazan; the IEA will publish a monthly report on the oil market; the USA: inflation, September – 15:30 MSK; Russia: inflation, week of oil reserves – 23:00 Moscow.