Russian stock indices mixed by end of trading on Moscow Exchange on Wednesday
The MOEX index grew by 0.41%, while the dollar-denominated RTS index fell by 1.48%
MOSCOW, August 2. /TASS/. The Russian stock indices showed mixed dynamics by the end of trading session on the Moscow Exchange on Wednesday.
The MOEX index grew by 0.41% to 3,106.46 points, the dollar-denominated RTS index fell by 1.48%, to 1,040.15 points, due to the weakness of the ruble.
At the end of the day, the dollar-to-ruble rate rose by 1.82% reaching 94.15 rubles, the euro exchange rate increased by 1.79% and amounted to 102.97 rubles, the yuan exchange rate went up by 0.22% to 13.06 rubles.
"Oil prices fluctuated close to $85 per barrel for most of the day, while the ruble remained markedly weak, which leads to a positive revaluation of exporters' shares," said Alexander Bakhtin, an investment strategist at BCS World of Investments.
Sentiment on external sites remained predominantly negative.
"The general sentiment was worsened by the Fitch rating agency, which unexpectedly downgraded the US long-term rating from AAA to AA+. At the same time, if we compare the current situation with the shock reaction of the markets to the downgrade of the US rating by S&P in 2011, we can say that now the market has reacted calmly," the expert noted.
On Wednesday, shares of the logistics company FESCO (+19.3%) became leaders of growth on the Russian stock market again. According to Natalya Milchakova, a leading analyst at Freedom Finance Global, FESCO shares may still win back the important news about the increase in the capacity of the Vladivostok Commercial Sea Port by the company.
Depositary receipts of EMC holding (-2.5%) again became leaders of decline on Wednesday.
BCS World of Investments expects that on August 3 the MOEX index will be in the range of 3,025-3,125 points, the ruble-to-dollar rate will vary between 91.5 and 94.5 rubles.
Freedom Finance Global believes that the MOEX index tomorrow may move in the corridor of 3,050-3,150 points, the dollar-to-ruble rate - in the range of 93-95 rubles, the euro-to-ruble rate - in the range of 102-104 rubles, the yuan-to-ruble rate - in the range of 12.8 -13.5 rubles.