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Russian stock indices collapse during Tuesday trading on Moscow Exchange

By the end of trading session, the MOEX index fell by 8.84% up to 2 215.67 points, the RTS index plummeted by 9.31%, to 1,154.17 points

MOSCOW, September 20. /TASS/. The Russian stock market on Tuesday showed a sharp fall amid the news background and a decline in oil prices.

By the end of trading session, the MOEX index fell by 8.84% up to 2 215.67 points, the RTS index plummeted by 9.31%, to 1,154.17 points.

The negative news background includes reports that the government discusses the introduction of additional tax for exporters of oil, gas and LNG from next year. In this regard, representatives of the oil and gas sector saw the sharpest decline today. Given the weight of oil and gas chips in the MOEX index, the scale of the decline is logical. The geopolitical news also influenced general mood of the trading participants," said Alexander Bakhtin, investment strategist at BCS World of Investments.

At the end of the day, the dollar-to-ruble rate increased by 0.39% to 60.55 rubles, euro went up by 0.40%, up to 60.56 rubles. The price of Brent oil on Monday fell by 0.27%, to $91.1 per barrel. Gold fell in price by 0.07%, up to $ 1,682.3 per Troy ounce.

On Tuesday there were simply no growth leaders in the Russian market, almost all shares lost in cost on negative news. The leaders of decline were the shares of the Samolet Group (-12.5%), depository receipts of Globaltrans (-11.7%) and QIWI (-11.4%), said leading analyst Freedom Finance Global Natalya Milchakova.

According to BCS World of Investments, on September 21, the MOEX index will be in the range of 2,220 - 2,400 points, the forecast range of the dollar -ruble pair is 59-62 rubles.

Freedom Finance Global expects the values of the MOEX index in the range of 2,250-2,350 points, the dollar pairs and the euro to the ruble - in the range of 60-63 rubles.