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RTS index up 0.46%, MOEX index up 1.07% as trading session closes on Monday

The dollar-to-ruble exchange rate rose by 0.35% to 70.95 rubles, the euro rate fell by 0.61% to 76.29 rubles

MOSCOW, February 6. /TASS/. The main trading on the Moscow Exchange on Monday began with a slight "symbolic" decline of the MOEX index but soon after that both MOEX and RTS indices started to grow and renewed their highs that were registered last autumn.

By the end of the main trading session, the MOEX index grew by 1.07% up to 2,272.37 points, the dollar-denominated RTS index went up by 0.46% to 1,007.15 points.

The dollar-to-ruble exchange rate rose by 0.35% to 70.95 rubles, the euro rate fell by 0.61% to 76.29 rubles, the yuan rate edged up by 0.002% to 10.41 rubles.

"Again, not the oil sector, which is under pressure from the expansion of sanctions restrictions against Russian raw materials exports, but financial, consumer and metallurgical sectors were the driving force on the Russian market. Exporters received some support from the weakening of the ruble," said Alexander Bakhtin, an investment strategist at BCS World of Investments. In the meantime, the rise on the Russian market was observed despite the deteriorating external background, the expert noted.

 

Stock market

 

On Monday, ordinary shares of the Krasny Oktyabr confectionery manufacturer were among the leaders of growth on the Russian stock market again, having risen in price by 31%, said Natalya Milchakova, a leading analyst at Freedom Finance Global.

Shares of Globaltrans rose (+5.7%), "due to the future increase in the transportation of oil and coal in the east," the expert suggested. Novatek shares went up (+4.54%) after the publication of information on net profit that grew by 50% in 2022 and a forecast for the growth of hydrocarbon production in 2023, she added.

Shares of the Detsky Mir retailer (-1%), as well as shares of Rusal (-0.84%) were the leaders of the decline without news. Gazprom shares fell by 0.68%. perhaps amid fears of the consequences of an earthquake in Turkey for the TurkStream gas pipeline, Milchakova said.

According to BCS World of Investments, on February 7, the MOEX Index will be 2,185 - 2,300 points, at the dollar-to-ruble rate will be 69.5-71.5 rubles.

The Freedom Finance Global expects the MOEX index to be within 2,220 - 2,320 points, the dollar/ruble pair - in the range of 70-72 rubles, the euro/ruble pair - in the range of 76-78 rubles, and the yuan/ruble - in the range of 10.3-10.6 rubles.