Stock market review for February 10, 2021

The trading dynamics was multidirectional. Russneft shares (RNFT 202.6, -3.06%) remained among the outsiders. The leaders of the growth were (QIWI 853, +4.60%). USD/RUB dropped below 74 for the first time since January 21.

M.video (MVID 792, -1.37%) published its operating results. Revenue significantly exceeded forecasts, amounting to 504 billion rubles for the year, of which over 300 billion came from online sales. The company will develop the goods.ru site together with Sberbank (SBER 268.03, -2.61%). M.video's share will be only 35%, and the investor will apparently receive the bulk of the income. Nevertheless, there is no indication that the jointly developed site will put pressure on M.video-Eldorado's own business. After all, an alliance with a strong player is better than fierce competition with one. The good news for investors was the dividend policy, which provides for the payment of at least 100% of profits while maintaining comfortable covenants. Sales growth in 2021 could be 20-30%. We do not rule out further growth of quotations

(ALRS 103.8, +0.83%) will release sales data for January. The increase in sales in December above $500 million is mainly due to the long stagnation of the market, as a result of which the pent-up demand was realized. The conjuncture has noticeably improved. We expect monthly sales to be in the $300-350 million range by the end of the current quarter. At the same time diamond prices, in our opinion, will remain stable throughout the year.

(ROSN 494.85, -1.38%), spec. buy, target: 520 rubles. A rally in oil will provide a driver for growth in quotations. Reaching the Brent level of $60 per barrel could be a reason for the stock to reach the previous high.

We expect multidirectional dynamics. The market will follow the movements on the external commodity and stock markets. USD/RUB: 73.50-74.50. Benchmark for the Mosbirch Index: range of 3450-3500 points.