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Shares of the day: Yandex shares are growing in anticipation of financial results (October 31, 2022)

Shares of the Russian company “Yandex” traded in positive territory following the session on the Moscow Exchange on Monday, October 31. During the day, securities rose by +3.49% to 2091.6 rubles apiece

Investor interest in the shares grew due to the company’s financial report, which is expected to be published on Thursday, November 3rd. Analysts suggest that the IT giant will show good results for the third quarter of this year.

“We believe that the past quarter was good for the company, with revenue growth of 36% y/y and EBITDA more than 3x y/y. Thanks to the redistribution of shares in the advertising market in favor of domestic players, Yandex continues to record an influx of advertising budgets, which has a positive effect on the search segment,” commented Artem Mikhaylin, an analyst at Veles Capital Investment Company.

The Moscow Exchange Index by the end fell by -0.05%% to 2166.61 points. The RTS index fell by -0.19% to 1111.68 points. As of 19:57 Moscow time, Brent crude stood at $92.72 per barrel (-1.12%). The Russian currency weakened – 61.7 rubles. per dollar.

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