MOSCOW, July 12. /TASS/. The Russian stock indices showed strong growth on Wednesday.
By the end of the trading session, the MOEX index rose by 1.28% to 2,896.83 points, the dollar-denominated RTS index rose by 0.74% to 1,004.98 points.
The dollar-to-ruble rate at the end of the day rose by 0.49% to 90.87 rubles, the euro rate went up by 1.6% to 100.92 rubles, the yuan rate rose by 0.19% to 12.69 rubles.
"The MOEX Index, having rewritten new highs since February 2022, approached the mark of 2,900 points. The ruble was prone to weakening today, and Brent oil managed to reach $80 per barrel," said Alexander Bakhtin, an investment strategist at BCS World of Investments.
In addition, the key statistics of the day contributed to the improvement of general market sentiment.
"Consumer price growth (CPI) in the US in June fell to 3% year-on-year from 4% in May. This is not only below the forecast (3.1%), but also the lowest since 2021. Core inflation in monthly terms is also slowed down growth," the expert explained.
On Wednesday, growth leaders on the Russian stock market were depositary receipts of the X5 retailer (+4.9%), "on optimistic forecasts that the holding will open more than 2,000 Pyaterochka stores throughout Russia by the end of the year and the growing interest of investors in Russian retail in general," suggested Natalya Milchakova, a leading analyst at Freedom Finance Global.
The leaders of the decrease were VTB shares (-0.96%) after the recent growth on positive news, the expert added.
According to a forecast by BCS World of Investments, on July 13, the MOEX index will be in the range of 2,800-2,900 points, at the dollar-to-ruble rate is expected at 89-92 rubles.
Freedom Finance Global expects that tomorrow the MOEX index may fluctuate in the corridor of 2,800-2,900 points, the dollar/ruble pair will trade in the range of 89-91 rubles, euro/ruble - in the range of 99-101 rubles, yuan/ruble - in the corridor 12.3-12.8 rubles.