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Russian stock indices up as trading on Moscow Exchange closes on Wednesday

The MOEX index rose by 0.56%, while the dollar-denominated RTS index climbed by 0.51%

MOSCOW, February 7. /TASS/. The Russian stock indices went up in the course of trading on the Moscow Exchange on Wednesday.

At the end of the day, the MOEX index rose by 0.56%, to 3,256.58 points, the dollar-denominated RTS index climbed by 0.51%, to 1,124.71 points.

The yuan-to-ruble rate edged up by 0.002% to 12.65 rubles, the dollar-to-ruble rate by 0.05% to 91.27 rubles, the euro-to-ruble did not change and was 97.99 rubles.

"The drivers for the growth of Russian shares were the weak ruble, the recovery of oil prices closer to $80 per barrel Brent and certain corporate stories. In particular, Yandex shares were adjusted upward. Sber shares are in demand in anticipation of the release of strong financial reports for January at the end of the week," said investment strategist at BCS World of Investments Alexander Bakhtin.

At the end of the trading session the growth leaders were Yandex shares (+5.77%), TCS Group receipts (+2.63%), TMK shares (+2.29%), X5 Retail Group receipts (+2.08% ), LSR securities (+1.66%), PIK securities (+1.41%), preferred and ordinary shares of Sberbank (+1.34% and +1.27%).

"Yandex shares returned to a confident increase and reached another high since February 2022, fully recouping the losses at the beginning of the week caused by fears of delisting securities from the Moscow Exchange as part of the reorganization," said Veles Capital analyst Elena Kozhukhova.

At the end of the session, the leaders of decline were the preferred shares of Bashneft (-3.16%), shares of M. Video (-2.90%), shares of Qiwi (-1.92%), securities of MMK (-1. 63%), Aeroflot shares (-1.49%), VK shares (-1.47%), NLMK securities (-1.45%).

BCS World of Investments expects that on Thursday, February 8, the MOEX Index will vary in the range of 3,175-3,275 points, while the dollar-to-ruble rate will be 88.5-91.5 rubles. According to the forecast of Freedom Finance Global, tomorrow the MOEX index may again fluctuate in the range of 3,200-3,300 points, the dollar-to-ruble rate will move in the range of 90-92 rubles, the euro-to-ruble will vary in the range of 97-99 rubles, the yuan-to-ruble will fluctuate in the range of 12.3-12.8 rubles.