Russian stock indices decline as trading on Moscow Exchange closes
The MOEX index fell by 2.32%, the dollar-denominated RTS index went down by 2.65%
MOSCOW, August 23. /TASS/. The Russian stock indices declined by the end of trading session on the Moscow Exchange on Friday. The MOEX index fell by 2.32%, to 2,662.47 points, the dollar-denominated RTS index went down by 2.65%, to 915.64 points. The yuan-to-ruble exchange rate edged up by 0.001% in a day, to 11.84 rubles.
"Heavyweights - Gazprom and Sberbank shares - continued to suffer losses. Today they were joined by Lukoil, whose shares actively grew in previous sessions in contrast to most blue chips," says Alexander Shepelev, an expert on the stock market at BCS World of Investments.
"The ongoing tension on the external geopolitical contour, fears of an even stricter monetary policy and local impulses for the ruble to strengthen are the main reasons for profit taking. In addition, today, apparently, the Friday factor, which is relevant during periods of acute geopolitics, had an effect," the expert added.
The leaders of growth were shares of Alrosa (+2.25%), listed stock prices of RussNeft (+1.69%), Rusal shares (+1.52%), Polyus securities (+1.43%), Solidcore listed stock prices (+0.99%), and Akron shares (+0.51%).
The leaders of decline by the end of the session were ordinary and preferred shares of Mechel (-10.86% and -9.18%), listed stock prices of Samolet (-7.28%), Novabev securities (-7.14%), shares of MMC Norilsk Nickel (-5.94%), listed stock prices of MMK (-5.93%).
According to the forecast of BCS World of Investments, on August 26, the MOEX index will vary in the range of 2,675-2,775 points, the yuan exchange rate on the Moscow Exchange will be 11.8-12.2 rubles, the dollar exchange rate is expected to be 90-92 rubles.
Freedom Finance Global expects that on Monday the MOEX index will fluctuate in the range of 2,650-2,750 points, the yuan exchange rate will be in the range of 12.5-13 rubles.
On the over-the-counter market, the US dollar may show fluctuations in the range of 90-93 rubles, the euro rate will be in the range of 101-104 rubles. On Monday, the US will publish July statistics on basic orders for durable goods. No important events or publications are expected on the Russian market on this day.