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MOEX Russia, RTS indexes falling by end of trading session

The dollar gained 0.14% to 73.29 rubles at the same time. The euro dropped by 0.48% to 88.85 rubles during the trading session

MOSCOW, June 3. /TASS/. Russian market indexes ended the trading session on Thursday in the red. The ruble-denominated MOEX Russia Index declined by 0.32% to 3,805.45 points by the close of business on the Moscow Exchange. The dollar-denominated RTS Index lost 0.44% and dropped to 1,636.51 points.

The dollar gained 0.14% to 73.29 rubles at the same time. The euro dropped by 0.48% to 88.85 rubles during the trading session.

Meanwhile, Brent futures had an upsurge by 0.31% to $71.21 a barrel on the London-based ICE.

"Oil continues to be steadily above $70 [per barrel], despite growing dollar on the forex market. OPEC+ confidence in rising demand for the energy resource in coming months and US crude oil inventories data, indicative of a strong start of the driving season in the US, support oil prices," Alexander Bakhtin from BCS Investment World says.

Russia’s plans to completely abandon the dollar in the National Wealth Fund (NWF) structure are among the top news on the domestic market today. "This is done with the official explanation of concerns regarding sanctions. Clearly the NWF composition can be structured without the US currency - there are plenty of fairly safe instruments and assets on the investment field," Anna Bodrova from Alpari comments.

The markets will continue focusing on signals from regulators and macro statistics at the turn of the week, Bakhtin said. "The short-term market outlook remains positive, considering oil prices and comfortable geopolitical background," he added.

Chances are higher for the Russian market to be in the black tomorrow, Alexander Osin from Freedom Finance comments.

The MOEX Russia Index is expected to be in the range of 3,700-3,800 points on Friday, BCS Investment World says. Freedom Finance predicts the range of 3,750-3,855 points for the MOEX Russia Index tomorrow.