Russian stock indices show mixed dynamics as trading closes on Monday

Business & Economy April 03, 2023, 19:45

VTB shares also rose (+8.9%), as the bank has already announced the resumption of the publication of financial statements for 2022

MOSCOW, April 3. /TASS/. The Russian stock indices showed mixed dynamics by the end of trading on the Moscow Exchange on Monday.

The MOEX index rose by 0.92% to 2,473.32 points, while the dollar denominated RTS index fell by 0.8% to 988.8 points.

During the day, the dollar-to-ruble rate rose by 1.16% to 78.75 rubles, the euro went up by 1.62%, to 85.83 rubles, the yuan increased by 0.16%, to 11.44 rubles.

"The representatives of the oil and gas sector looked better than the market. In many respects, the unexpected decision of OPEC + to reduce production by 1.16 million barrels per day brought oil prices to the areas of $85. The weakness of the dollar against major currencies also supported commodity prices," says Alexander Bakhtin, strategist at the BCS World of Investments.

The external background was calm. March PMI manufacturing activity index in the eurozone turned out to be slightly better than expected, while the same indicator for the US, on the contrary, yielded to forecast values.

On Monday, shares of the Russian automotive enterprises were the leaders of growth. Shares of the Sollers group rose by 36% and shares of the GAZ group went up 15%, probably in anticipation of any government support for the company's promising projects, Natalya Milchakova, leading analyst at Freedom Finance Global, assumes.

VTB shares also rose (+8.9%), as the bank has already announced the resumption of the publication of financial statements for 2022.

Shares of Phosagro (-3.5%) were the leaders of decline "due to the closing date of the register for receiving dividends," Milchakova explains. Without news, depository receipts of Cian fell in price by 1.4%, shares of the timber industry group Segezha dropped by 1.2%.

According to a forecast by BCS World of Investments, on April 4, the MOEX index will be in the range of 2,420-2,520 points, at the dollar rate - in the range of 76.7-78.7 rubles.

Freedom Finance Global expects that the MOEX index will fluctuate within 2,400-2,500 points, the dollar exchange rate to be in the range of 77-79 rubles, the euro - 84-86 rubles, the yuan - 11.2-11.5 rubles.

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