Russian stock indices slightly decline as trading on Moscow Exchange closes

Business & Economy August 24, 2023, 20:12

The dollar-to-ruble rate rose by 0.64%, while the euro-to-ruble rate went up by 0.13%

MOSCOW, August 24. /TASS/. The Russian main stock indices declined on Thursday.

By the end of trading session on the Moscow Exchange, the MOEX index fell by 0.28% to 3,137.37 points, the dollar-denominated RTS index lost 0.73% closing at 1,043.51 points.

At the end of the day, the dollar-to-ruble rate rose by 0.64% to 94.87 rubles, the euro-to-ruble rate went up by 0.13% to 102.65 rubles, the yuan rate climbed by 0.57% to 12.972 rubles.

On Thursday, ordinary shares of Bank Saint-Petersburg (+5.1%) were the leaders in growth on the stock market, following the release of the bank’s strong IFRS report for the first half of 2023, Natalya Milchakova, a leading analyst at Freedom Finance Global, said. Other leaders of growth were receipts of CIAN (+4.13%), shares of PIK (+3.94%), receipts of Fix Price (+3.73%) and GlobalTrans (+3.39%).

"The leaders of the decline (without news) were depositary receipts of the EMC holding (-2.7%)," Milchakova added. The shares of Renaissance Bank (-2.53%), Raspadskaya (-1.97%), Seligdar (-1.71%) and Cherkizovo (-0.91%) also declined.

According to a forecast by BCS World of Investments for August 25, the MOEX index will fluctuate between 3,085-3,185 points, the dollar-to-ruble rate move within 93 and 95 rubles.

Freedom Finance Global expects that on August 25 the MOEX index will fluctuate in the range of 3,100-3,200 points. The dollar-to-ruble rate will trade in the range of 93-95 rubles, the euro-to-ruble will be in the range of 101.5-104 rubles, the yuan-to-ruble rate will vary in the range of 12.8-13.5 rubles.

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