The stock market is declining, but the pullback is still technical in nature

Russian indices show a slight pullback at the opening of trading on Thursday from the highs reached a day earlier. The MosBirch index rewrote record highs on Wednesday, while the RTS index hit 9-year highs.

Today's pullback is still technical in nature. Oil also corrected slightly to 71.8 (-0.6%), and it was its rise that has been pulling the market the last few days. At the same time, levels remain high. Oil in rubles is holding just below 5200.

Today we see moderately negative dynamics in metals - copper, nickel, aluminum are getting cheaper.

In the first minutes, yesterday's outsiders, Lenzoloto-ao (+6%) and Beluga (+4.5%), took the lead as they played off earlier corporate dividend and SPO stories, respectively.

(+1.4%), after Citi analysts upgraded their recommendation to "buy". The company will release its May 2021 sales results today.

Heavyweight securities in moderate negative: (-0.15%), (-0.3%), LUKOIL (-0.5%).

Shares of IDGC of Center (-9%) were cleared from dividends.

A number of important events are expected today, including ECB meeting, US inflation report.

The dollar exchange rate fell below 72 yesterday, but later rebounded. Today, the USD/RUB pair is trading at 72.18 (-0.18%).

Leaders: Lenzoloto-ao (+6%), Beluga (+4.5%), ALROSA (+1.4%), Lenzoloto-ap (+1.2%)

Outsiders: IDGC of Center (-9%), Mother and Child (-1.5%), PhosAgro (-1%), Novatek (-0.8%)