What should an investor keep an eye on this week

In the coming week, investors are waiting for data on inflation and producer prices, as well as news from major issuers. Geopolitical tensions and tight monetary policy remain constraining factors, but the slowdown in inflation gives hope for an increase in the government bond index.

On Monday, the results of the auction for the sale of the state-owned shares of YUGK are expected to be summed up, said Anna Kokoreva, an expert on the stock market at BCS World Investments.

On May 18, Gazprom's board of Directors will consider the issue of dividends for 2025. On the same day, the annual general meeting of shareholders of the Astra Group will be held (4.67 rubles per share is recommended from the retained earnings of previous years), and the retailer Henderson will disclose its operating results for April, Finam analysts added. Rostelecom will present a new strategy at the CIPR forum.

On Wednesday, the Board of Directors of VUSH Holding will discuss dividends for 2025, and the board of Directors of T-Technologies will discuss dividends for the first quarter of 2026. Rosstat will publish producer price data for April and a weekly inflation report.

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May 21 is the key reporting day. Mosbirzha, T-Technologies, Softline, Cian, VK and MTS-Bank will present financial results under IFRS for the first quarter, said Alexander Ugryumov, senior analyst at Gazprombank's Financial Markets Analysis Department. The shareholders of Ozon Pharmaceuticals will consider dividends for 2025 (0.27 rubles per share is recommended), added Alexander Dudnikov, an analyst at Cifra Broker.

On Friday, MTS and Inter RAO will disclose their IFRS financial statements for the first quarter. The Boards of Directors of MGKL and NCSP will make recommendations on dividends for 2025. Henderson shareholders will vote on the dividends for the first quarter (17 rubles per share is recommended).

The RGBI government bond index, according to Anna Kokoreva, may continue to grow against the background of slowing inflation and rise to 120-121 points. Alexey Kovalev, head of Debt market analysis at Finam, expects more restrained dynamics in the range of 119-120 points, noting that a month remains before the Central Bank's rate meeting and the market is in a "lull."

The dollar exchange rate may be 73-74 rubles, the euro — 83.5–84.5 rubles, the Chinese yuan — 10.60–10.80 rubles.

The Moscow Exchange index, according to forecasts by Finam analysts, will consolidate in the range of 2600-2700 points in the absence of significant drivers. There is no progress in resolving the Ukrainian conflict, the difficult economic situation and the tight PREP limit the demand for risk, and high oil prices are no longer enough to improve sentiment.