Russian stock indices slightly decline by end of trading on Moscow Exchange on Friday

Business & Economy June 09, 2023, 20:23

The dollar-to-ruble rate rose by 0.007% to 82.6 rubles, the euro rate fell by 0.17% to 88.92 rubles, the yuan rate dropped by 0.04% to 11.55 rubles

MOSCOW, June 9. /TASS/. The Russian stock indices showed neutral dynamics by the end of the weekly trading on the Moscow Exchange.

As a result of the day, the MOEX index edged down by 0.06%, to 2,708.04 points, the dollar-denominated RTS index fell by 0.05%, to 1,032.29 points.

The dollar-to-ruble rate rose by 0.007% to 82.6 rubles, the euro rate fell by 0.17% to 88.92 rubles, the yuan rate dropped by 0.04% to 11.55 rubles.

"The decline in oil prices was promptly bought out. The weakness of the ruble supported the prices of exporters' securities. The upcoming long weekend deterred buyers - on Friday, many investors are cautious, postponing active trading until the beginning of next week. The Bank of Russia, as expected, kept the key rate unchanged - 7.5%. In general, this is a neutral solution for the stock market," said Alexander Bakhtin, investment strategist at BCS World of Investments.

By the end of the session, the leaders of growth were the shares of the following companies: Qiwi (+4.02%), Surgutneftegaz (+4.01%), Moscow Exchange (+2.15%), RussNeft (+1.54%), Alrosa (+1.45%), Aeroflot (+1.14%), LSR (+0.83%), Rosneft (+0.82%).

The leaders of decline where the shares of Polymetal (-4.56%), Fix Price (-1.53%), NCSP (-1.47%), TMK (-1.37%), En+ Group (-1.28%), RusHydro (-1.16%). Ordinary and preferred shares of Sberbank lost about 0.6% and 0.4%, respectively.

According to BCS World of Investments’ forecast on June 13, the MOEX index will be in the range of 2,650-2,750 points, the dollar-to-ruble rate will trade in the range of 80-83 rubles.

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