Russian stock indices show mixed dynamics on Monday
The dollar-to-ruble rate decreased by 2.74%, while the euro rate dropped by 2.43%
MOSCOW, September 11. /TASS/. The Russian stock indices started trading by showing a noticeable decline. By the end of the day, the MOEX index decreased by 0.65%, to 3,122.37 points, the dollar-denominated RTS index increased by 2.08%, to 1,033.50 points.
The dollar-to-ruble rate decreased by 2.74%, closing at 95.10 rubles, the euro rate dropped by 2.43%, to 102.25 rubles, the yuan rate fell by 1.91%, to 13.013 rubles.
One of the reasons for the continued decline in shares is the expectation of the Central Bank's decision on the key rate at the end of the week, says Alexander Shepelev, an expert on the stock market at BCS World of Investments.
"Even in the absence of a clear consensus, although most experts are still inclined to the key rate increase to 14%, the flow of assets from risky ones to bonds continues to occur. Given that the market looks quite "overheated," the rise in the price of money will not make it easier for business. The dynamics of the weakening of the ruble, which helped the growth of shares, have now noticeably decreased," the expert said.
Some support for Russian equity securities is provided by oil prices, which remain above $90 per barrel.
On Monday, shares of the following companies were the growth leaders: TGK-1 (+3.52%), X5 Retail Group (+3.14%), Transneft (+2.53%), M.Video ( +2.50%), Gazprom Neft (+2.04%), Polyus (+1.33%). Preferred and ordinary shares of Sberbank retreated from the session highs and rose in price by 0.1% and 0.2%, respectively.
The leaders of decline were the shares of Russneft (-8.09%), CIAN (-6.70%), Ozon (-4.24%),VK (-3.68%), OGK-2 shares (-3.19%), PIK (-3.03%), LSR shares (-2.53%).
According to a forecast by BCS World of Investments, on September 12, the MOEX index will vary between 3,000 and 3,120 points. The dollar-to-ruble rate will be between 95.7 and 96 rubles.
Freedom Finance Global expects that on Tuesday the MOEX index may move in the corridor of 3,100-3,200 points, the dollar-to-ruble rate will fluctuate in the range of 95-97 rubles, the euro-to-ruble will be in the range of 102-104 rubles, the yuan-to-ruble - in the range of 13-13.4 rubles.