Russian stock indices in the green as trading closes on Thursday

Business & Economy May 16, 20:16

The dollar-to-ruble rate decreased by 0.12% to 90.97 rubles, while the euro-to-ruble rate increased by 0.02% to 98.86 rubles

MOSCOW, May 16. /TASS/. The Russian stock indices were in the green by the end of trading session on the Moscow Exchange on Thursday.

The MOEX Index rose by 0.45% to 3,486.26 points, the dollar-denominated RTS index went up by 0.62% to 1,207.94 points.

The yuan-to-ruble rate increased by 0.11% to 12.588 rubles, the dollar-to-ruble rate decreased by 0.12% to 90.97 rubles, the euro-to-ruble rate increased by 0.02%, to 98.86 rubles.

"The Russian stock market closed trading in positive territory in the context of positive news related to the official visit of Russian President Vladimir Putin to China," said Freedom Finance Global leading analyst Natalya Milchakova.

The MOEX Index updated its maximum for the year thanks to such supporting factors as rising oil prices, specific corporate news, while the strengthening of the ruble restrained the dynamics, said investment strategist at BCS Investment World Alexander Bakhtin.

On Thursday, the growth leaders were shares of Rostelecom (+6.11%), Moscow Exchange (+2.35%), Russneft (+2.26%) and preferred shares of Tatneft (+1.35%).

The leaders of the decline were shares of ICJSC UMG (-3.7%), shares of Rusal (-2.28%) and PIK developer (-2.27%) and TMK quoted prices (-2.04%).

Analysts at BCS Investment World expect that on Friday, May 17, MOEX index will be in the range of 3,420-3,520 points, the ruble-to-dollar rate will be 90-92 rubles.

According to Freedom Finance Global, the MOEX index will spend Friday in the range of 3,400 - 3,500 points. The dollar-to-ruble rate will trade in the range of 89-91 rubles. Forecast for the euro-to-ruble rate is 97.5-99 rubles, for the yuan-to-ruble rate - 12.5-12.9 rubles.

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