What should an investor keep an eye on this week

The Moscow Exchange index has been declining for the second week in a row, losing more than 3.5% and gaining a foothold below 2,800 points. The negative for the market is created by the strengthening of the ruble to a level below 80 per dollar and the refusal to pay dividends from Gazprom, the Magnit chain of stores and the NLMK steel company, the First Management Company explained. Even positive inflation data indicating a possible reduction in the key rate in June and July do not support the market yet, experts emphasize.

On Monday, the board of directors of the Unipro energy company will consider the issue of dividends for 2024, Finama reported. On the same day, Rusal will hold an extraordinary shareholders' meeting to discuss dividends for the first quarter of 2025. Also, on May 26, admission to the register of shareholders of KuibyshevAzot for receiving dividends for 2024 in the amount of 2.5 rubles per share will be completed, BCS World Investments clarified. Events may affect the value of these companies' securities.

Stock surge: how the authorities are trying to boost interest in the stock market

Why are the Central Banks trying to attract money into investments right now

On May 27, shareholders of the Europlan leasing company will make a decision on the final dividends for 2024 (the recommendation is 29 rubles per share), Gazprombank Investments noted. On the same day, EL5 Energy will present quarterly RAS reports, Finama added.

On Wednesday, the board of directors of Inter RAO will decide on the dividends for 2024, and the beverage manufacturer Novabev will hold an annual shareholders' meeting, BCS World Investments said. Europlan will also report on IFRS for the first quarter of 2025 and hold an Investor Day, Gazprombank Investments recalled.

On Thursday, May 29, RusHydro will publish its IFRS financial statements for the first quarter, Gazprombank Investments said. PhosAgro's Board of Directors will consider dividends for 2024 (the recommendation is 171 rubles per share), and EsEfAi financial holding will discuss payments in the amount of 83.5 rubles per share, Finama said. On the same day, a meeting of Akron shareholders will be held, where they can approve dividends in the amount of 427 rubles per share for 2024 and 107 rubles from the profits of previous years, BCS World Investments noted.

On May 30, Inter RAO and Aeroflot will present their IFRS financial statements for the first quarter, Gazprombank Investments recalled. On the same day, the shareholders of MMK and Buryatzolot will make decisions on dividends for 2024, and the Board of Directors of MMK has already recommended that payments be waived, according to BCS World Investments. Friday will also be the last day for the purchase of Tatneft shares with the right to dividends (43.11 rubles per share), Finam added.

The RGBI government bond index is likely to fluctuate in the range of 107-110 points this week, said Andrey Stratichuk, senior financial analyst at Gazprombank Investments. Corporate bonds may show moderate growth, while the dynamics of government securities will be less predictable due to geopolitical risks.

The ruble will trade in the range of 79-83 per dollar, 89.5–93 per euro and 11.0–11.25 per yuan this week, Finam analysts predict. Against this background, the Moscow Exchange index may drop to the level of 2600-2650 points.