What can an investor expect this week

This week, the Russian market will focus on corporate events, dividend decisions and macro statistics. The focus will remain on geopolitical risks, as well as Rosstat's inflation data, which will be released on Wednesday. Investors will evaluate the operating results of the companies and the decisions of the boards of directors on payments.

May 4 is the last day for inclusion in the register of Lukoil shareholders entitled to dividends for 2025 (278 rubles per share), said Alexander Ugryumov, senior analyst at Gazprombank's Financial Markets analysis department. The registers of Tattelecom and Prominergosbyt will be closed on the same day, said Anna Kokoreva, an expert on the stock market at BCS World of Investments. Also, on April 4, the EsEfAi Financial Group will hold an annual general meeting of shareholders, which will approve the dividends for the previous year.

On Wednesday, May 6, the IT company Positive Technologies (Positiv Group) will hold an extraordinary general meeting of shareholders on dividends for the first quarter of 2026 in the amount of 28.08 rubles per share. The gold mining company Polyus will hold an annual general meeting of shareholders on the final dividends for 2025 (56.8 rubles per share), the generating company EL5-Energo will also consider the issue of payments.

The focus will remain on Rosstat's inflation data, which will be released on Wednesday. Their dynamics will be important for future expectations on monetary policy.

May 7 — MGKL Telecommunications Company (Moscow City Telephone Network) will announce its operating results for the four months of 2026.

On Friday, the retailer Fix Price will hold an extraordinary general meeting of shareholders on dividends for the first quarter of 2026 in the amount of 0.11 rubles per share.

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The RGBI government bond index continued to weaken last week, reflecting the conservative step of reducing the Central Bank's key rate. Yields along the entire curve rose within 10 basis points. Alexander Ugryumov expects the index to consolidate at the achieved levels this week. He did not rule out a transition to moderate growth. Anna Kokoreva believes that after the correction, the index may return to the area of 120-120.5 points.

The dollar exchange rate, according to analysts, will be 75.5–77 rubles, the euro — 87.5–89.5 rubles, and the yuan — 10.9–11.3 rubles. The ruble may be supported by increased oil prices, but the tax period has ended, and currency transactions are expected to resume under the budget rule, which will put pressure on the ruble. The Moscow Exchange index will be in the range of 2600-2650 points.