Stock market overview for April 29, 2021

A moderate decline continued. The reason for it was the correction on the external sites. TMK (TRMK 77.16, +4,67%) were the leaders. Securities (TATNP 528.0, -7,12%) traded worse on the news. The USD/RUB pair spent the session in the range of 74-75 amid a rise in oil price to $67 per barrel.

(MAIL 1,717.4, -0.28%) will report for the first quarter. The consensus estimates the company's revenues at 28 billion rubles, with EBITDA of 6 billion rubles and profit of 0.4 billion rubles. Based on the results of the current year, the revenue is expected to increase by 271 bln rubles, up to 128 bln rubles. Yandex's statements, which were released the day before, as a whole coincided with the expectations. It is possible that Mail.Ru's financial results this year will be much better than predicted, but this will become evident based on the results of the first quarter. In terms of key multiples, Yandex and Mail.Ru shares are comparable, but the latter does not look overvalued. We expect its quotations to rise to 2,000 rubles in the current quarter.

(SBER 298.21, -0.10%), spec. buy, target: 305 rubles. Sber shares are poised to take the psychologically significant RUB 300 mark. The group's investments in non-banking services will exceed Rb 300bn, making it the largest ecosystem, leaving no chance for competitors.

We expect mixed dynamics. Foreign platforms have moved into consolidation mode. Banks and oil & gas sector papers will be the leaders of the growth on the Moscow Exchange. The USD/RUB pair will trade in the range of 74.10-75.10. On the local market, the focus is on corporate reports, as well as Gazprom's Investor Day.