Russian stock market closes in the green on Monday — market data

Business & Economy August 28, 2023, 21:35

The dollar lost 0.11% to 95.31 rubles, while the euro gained 0.17% to 103.18 rubles

MOSCOW, August 28. /TASS/. The Russian stock market indices ended the trading session on Monday in the green, according to the Moscow Exchange.

The MOEX Russia Index edged up by 1.31% to 3,198.72 points. The RTS Index added 1.35% and climbed to 1,057.97 points.

The dollar lost 0.11% to 95.31 rubles. The euro gained 0.17% to 103.18 rubles. The yuan added 0.01% to 13.06 rubles.

"Relative weakness of the ruble, Brent prices consistently held close to $85 [per barrel], improved external background and delayed demand of investors since the end of the last week on concerns regarding materialization of negative news during the weekend conditioned a comfortable start of the week," Alexander Bakhtin from BCS Investment World said.

The international background was moderately positive. "Chinese exchanges were traded in the black. The Chinese government reduced the stamp duty on stocks trading for the first time since 2008 and promised to decelerate initial public offerings of stocks. The Europe’s Euro Stoxx 50 was also in the green," the analyst noted.

The Russian market can continue growing if the current market conditions remain, BCS Investment World said. The company forecasts the range for the MOEX Russia Index as 3,105 - 3,225 points. Freedom Finance Global believes the Index will be within 3,100 - 3,200 points on Tuesday.

TCS Group, Sistema, Polyus, RusHydro and Segezha group will present their results tomorrow.

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