Russian stocks close in the green on Monday

Business & Economy September 12, 2022, 21:08

The dollar exchange rate lost 0.36% by the end of the day to 60.24 rubles, while the euro slipped by 1.67% to 60.8 rubles

MOSCOW, September 12. /TASS/. Russia’s stock market closed in the green on Monday as the MOEX Index added 0.97% to 2,449.65 points, while the RTS Index gained 1.42% to 1,280.67 points.

The dollar exchange rate lost 0.36% by the end of the day to 60.24 rubles, while the euro slipped by 1.67% to 60.8 rubles.

Investors focused on positive external environment. "The dollar index stepped back to the area of 108 points, which among other things helped commodity prices grow. The barrel of Brent oil headed to $95. The concerns that oil supplies from Russia may be reduced due to the sanctions pressure are also heating up the oil price," Alexander Bakhtin, an investment strategist at BCS, said.

On Tuesday oil prices may fluctuate in response to data from OPEC’s monthly report, he said, adding that statistics on growth rates of consumer prices in the US in August may set the general tone on the global markets.

BCS Investment World projects the MOEX Index at 2,350-2,500 points on September 13, while the dollar-ruble range is expected at 59.5-61 rubles.

Freedom Finance Global expects the MOEX Index at 2,400-2,500 points on Tuesday, while the dollar and euro pairs against the ruble is projected at 60-63 rubles.

Read more on the site →