Russian stocks close in the green on Tuesday
The dollar slipped by 0.07% to 91.29 rubles, while the euro gained 0.4% to 98.95 rubles
MOSCOW, May 14. /TASS/. Russia’s stock market closed in the green on Tuesday as the MOEX Index added 0.2% to 3,463.93 points, while the dollar-denominated RTS Index edged up by 0.1% to 1,194.63 points. The yuan exchange rate rose by 0.25% to 12.609 rubles, the dollar slipped by 0.07% to 91.29 rubles, while the euro gained 0.4% to 98.95 rubles.
"Russia’s stock market ended trading slightly higher amid positive macroeconomic, political and corporate news," lead analyst at Freedom Finance Global Natalya Milchakova said.
Purchases on the stock market on Tuesday were limited "by the ruble tending to strengthen and the oil’s price uncertainty," investment strategist at BCS World of Investment Alexander Bakhtin said.
"Shares of VK International Public Joint-Stock Company were the biggest gainer on the stock market (+3.7%), possibly, in expectation of the publication of the company’s strong results for the first quarter of this year," Milchakova said. Shares of Aeroflot (+3.92%), Sistema (+3.13%), RussNeft (+2.35%) and receipts of Headhunter (+1.93%) were also among the biggest gainers on Tuesday.
Shares of United Medical Group (-8.33%), receipts of Rusagro (-2.91%), shares of Rosseti (-2.6%) and the Far Eastern Shipping Company (-1.78%) were among the biggest losers.
BCS World of Investment expects the MOEX Index at 3,400-3,500 points on May 15, while the dollar exchange rate - at 91-93 rubles.
Freedom Finance Global projects the MOEX Index at 3,400-3,500 points on Wednesday, the dollar to ruble pair is expected at 90-92 rubles, the euro to ruble pair - at 98-100 rubles, while the yuan-ruble pair - at 12.5-12.9 rubles.
In the middle of the week the market expects CPI data from the US, Bakhtin added. "This indicator is important for general market sentiment as it is among key guiding principles for the Federal Reserve System in the monetary policy formation," he said. The IEA will release its monthly report, which in turn is able to influence oil prices at the moment. The boards of directors of Surgutneftegas and Unipro will take 2023 dividend decisions, while on the American market Cisco, Merck, E.ON will present their quarterly financial results.