MOEX Set to End Week Flat

The ruble-based MOEX Russia index edged up to 3,460 on Friday, as investors evaluated the heated situation in the Middle East and digested corporate news.

The financial and IT sector were leading the gains.

Among individual stocks, Surgut (2%), Sovcomflot (1.2%), BSP (1.1%), and TCS (1.1%) advanced the most. Also, MTS added 0.7% after it became known the placement price range for the IPO of MTS Bank would be RUB 2,350–2,500 per share, and Seligdar grew by 0.8%, having achieved a 78% increase in revenues from metals sales in Q1 of 2024.

Meanwhile, EN+ (-1.6%), AFK Sistema (-1.4%), and Rusal (-1.1%) declined.

Traders remained attentive to Severstal (0%), set to announce dividends on April 23rd.

The expectations for dividends have been lowered due to higher capital expenditures.

On the geopolitical front, the US introduced new restrictions on exports to Russia.

Over the week, the index was set to close flat, affected by losses in metals after the US and UK introduced sanctions.