The US dollar and yuan rose, while the euro fell on the Moscow Exchange during Monday’s trading session. Oil prices remained almost unchanged
Trading on the Moscow Exchange on Monday, April 22, ended with an increase in major indicators. The main indicators of the American stock market demonstrated an upward trend in the first half of the trading session.
Stocks
The Moscow Exchange index rose by 0.2% and closed at 3479 points. The RTS index grew by 0.04% and ended the trading session at 1174 points.
The Supervisory Board of Sberbank will discuss the distribution of profits and dividend recommendations for 2023 on Tuesday, according to the bank’s statement.
Sberbank’s President and Chairman of the Management Board, Herman Gref, in February confirmed the organization’s plans to allocate 50% of net profit according to IFRS for dividends in 2023. Sberbank earned 1.5086 trillion rubles in net profit according to IFRS in 2023, which is 5.2 times higher than the result for 2022. Based on a 50% payout rate, around 754 billion rubles could be earmarked for dividends in 2023, which amounts to 33.4 rubles per preferred and common share. The bank’s Supervisory Board will also address several issues in preparation for the annual general meeting of shareholders on Tuesday.
Previously, it was reported that Sberbank’s annual general meeting of shareholders will be held on June 21, 2024, in the form of absentee voting. The deadline for inclusion in the bank’s shareholder register for participation in the annual general meeting is May 27, 2024.
By 20:30 Moscow time, the Dow Jones Industrial Average had risen by 0.5%, the S&P 500 Index increased by about 1%, and the NASDAQ-100 index grew by 1%.
This week, financial reports from major technology companies and new inflation data are expected to be released.
On Friday, personal consumption expenditure price index data, a favorite inflation indicator of the Federal Reserve, which economists expect to remain elevated in March, will be published.
Other economic data this week includes the initial estimate of US GDP for the first quarter, which is expected to show a slight slowdown compared to the previous quarter.
Companies from the so-called Magnificent Seven of technology giants will report earnings: Tesla, the electric vehicle manufacturer, will report on Tuesday after the market closes, while Microsoft and parent company Google Alphabet will report on Thursday.
Currency
By 19:00 Moscow time, the US dollar rate was 93.47 rubles, up 32 kopecks from the previous closing level. By that time, the euro had depreciated by 9 kopecks and was priced at 99.3 rubles. The Chinese yuan rate increased by 1 kopeck and closed at 12.85 rubles.
In the global currency market, the US dollar index against a basket of six major currencies DXY remained almost unchanged and by 20:30 Moscow time was around 106.1 points.
Oil
The price of Brent crude oil futures contracts on the ICE Futures London Exchange was around $87 per barrel by 20:30 Moscow time. The price of WTI crude oil futures on the New York Mercantile Exchange at that time was around $83.5 per barrel.