IMOEX rose more than 2% on the day, once again passing the 2400 mark. A respite in risk appetite and a weaker dollar supported the oil price and thus the O&G sector. The dividend theme also continues to support with investors looking for the next big surprise. Besides O&G, blue-chips and 2nd tiers performed well with Aeroflot taking the lead on a sharp increase in passenger volumes. The index is trying to gain a foothold within 2400-2500 and will likely consolidate here for now 

OFZ yields saw little change on Monday. There was activity in bonds maturing in ten years or more – issue 26241 (10.47%, 2032) was the leader in terms of turnover, the yield of which increased by 2bp. The shortest papers were also actively traded – yields closed at 7.6-7.8% per annum

Segezha Group – 4Q22 IFRS Preview: Further deterioration, recovery in 1Q23 – reports Friday, 31 March – we expect revenue and OIBDA to drop 18% and 57% q/q, respectively – weakness driven by a seasonal decline in product prices and sales volumes along with logistics bottlenecks – dividends for FY22 are at risk given high leverage

Globaltrans – 2H22 IFRS Review: Better than expected – EBITDA and net income beat expectations thanks to an increase in fleet utilisation – no dividends for 2022 due to capital flow restrictions – management are trying to work out a solution to resume dividend payments – positive