Russian stock indices show moderate growth as trading on Moscow Exchange closes
"The ruble was uncertain today, and oil prices were mainly growing, which has already played a positive role," said Alexander Bakhtin, an investment strategist at BCS World of Investments
MOSCOW, August 25. /TASS/. The Russian stock indices were in the green at the end of the week.
By the end of trading session, the MOEX index rose by 0.64% to 3,157.33 points, the dollar-denominated RTS index edged up by 0.03% to 1,043.84 points. The dollar-to-ruble rose by 0.41% closing at 95.28 rubles, the euro rate went up by 0.36% to 103.01 rubles, the yuan edged up by 0.07% to 13.04 rubles.
"Trading activity on Friday was relatively low, which is relevant in times of difficult geopolitics. At the same time, the ruble was uncertain today, and oil prices were mainly growing, which has already played a positive role," said Alexander Bakhtin, an investment strategist at BCS World of Investments.
The external background was quite calm. "The final estimate of Germany's quarterly GDP was in line with forecasts - in the second quarter, the economy - the driving force of the eurozone, as expected, showed a zero result quarter-on-quarter and a decrease of 0.2% in annual terms," the expert added.
On Friday, the leaders of growth were the securities of HeadHunter (+5.37%), Sovcomflot (+2.35%), Etalon (+1.92%), Sistema Holding (+1%), Magnit (+0.89%).
The leaders of decline were the securities of M.Video (-4.27%), bank Saint Petersburg (-2.46%), Russneft (-1.29%), Seligdar (-1.23%), Fix Price (-0.9%), Mechel (-0.89%), Novatek (-0.2%).
According to a forecast by BCS World of Investments, on August 28, the MOEX index will fluctuate between 3,085 and 3,200 points, the ruble-to-dollar rate will trade in the range of 93-96 rubles.
Freedom Finance Global expects that on Monday the MOEX index will again move in the range of 3,100-3,200 points, the dollar-to-ruble rate can trade in the range of 94-96 rubles, the euro-to-ruble rate - in the corridor of 101-103 rubles, the yuan-to-ruble rate - in the range of 12.8-13.3 rubles.