What should an investor keep an eye on this week

This week, the Russian stock market will play off the Central Bank's sudden decision for many. Instead of the expected reduction in the key rate to 14%, it was lowered by only 0.25 percentage points on Friday and is now set at 14.25%. Investors will also monitor the disclosure of companies' financial statements, the dynamics of the declining Moscow Exchange index, and new data from Rosstat.

On Monday, the shareholders of the Moscow Stock Exchange will make a decision on dividends for 2025, Finam analysts said. Fix Price shareholders will also hold a meeting.

On June 23, MTS will hold a shareholders' meeting on last year's dividends. In addition, the operator of preferential mortgage programs "Dom.RF" will publish its IFRS financial results for May and the first five months of 2026.

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A meeting of shareholders of Ozon Pharmaceuticals on dividends for the first quarter of 2026 is expected on Wednesday. The Bank of Russia will release a review "On the development of the Russian banking sector" for May. Rosstat will present weekly inflation data and a report on industrial production for the last month of spring, added Alexander Dudnikov, an analyst at Cifra Broker.

June 25 is the last day of the purchase of shares of IFC Loan for the final dividends for 2025, BCS World Investments clarified. Shareholders' meetings will be held at Gazprom Neft, Tatneft, Diasoft, Uralsib Bank and Softline, as well as Mother and Child, MD Medical Group and Abrau Durso companies.

A meeting of Gazprom shareholders is expected on Friday. It is also the last day of the purchase of shares of NovaBev Group and Kazanorgsintez for dividends for 2025. KAMAZ will hold a meeting on the issue of additional issue.

The 2025 dividends will be approved by the shareholders of Surgutneftegaz, Bashneft, Sovcomflot, MTS Bank, Inarktiki, X 5, Svetofor Group and RussNeft. Renaissance Insurance will also hold a meeting: the board of directors first recommended paying 5.9 rubles per share, but then suggested waiving dividends and launching a buyback program for 5 billion rubles.

The RGBI index, according to Alexey Kovalev, head of Debt market Analysis at Finam, will remain around 118 points. The Central Bank's decision to lower the rate by only 0.25 percentage points instead of the expected 0.5 percentage points reflects the regulator's desire to wait and assess the stability of the inflation slowdown trajectory, so the growth potential of medium- and long-term bonds is limited.

According to the forecast of Finam analyst Alexander Potavin, the dollar will trade in the range of 73-75 rubles, the euro — 84-86, and the yuan - 10.6–11.1 rubles.

The Moscow Exchange index may continue its downward trend to the range of 2300-2350 points against the background of increasing geopolitical risks and market disappointment with the Central Bank's decision, Finam believes. Alexander Dudnikov admits checking the support of 2,370 points, which corresponds to the lows of December 2024. Experts do not see any signs of a reversal yet.