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Russian stock indices up as Friday’s trading closes

The MOEX index rose by 0.85%, to 2,782.35 points, while the dollar-denominated RTS index rose by 0.97%, to 946.7 points

MOSCOW, September 20. /TASS/. The Russian stock indices ended the week’s trading with growth.

By the end of the main session on the Moscow Exchange, the MOEX index rose by 0.85%, to 2,782.35 points, the dollar-denominated RTS index rose by 0.97%, to 946.7 points.

The yuan-to-ruble exchange rate went up by 1.18% in a day, to 13.12 rubles.

"The MOEX Index approached 2,800 points, despite the Friday factor, which usually restrains purchasing activity. The drivers for growth were the same. The ruble continued to weaken, while oil price remained at $74-75, and gold price updated its historical record," said Alexander Shepelev, an expert on the stock market at BCS World of Investments.

The euphoria caused by the sharp reduction in interest rates by the Federal Reserve has died down on external markets. The People's Bank of China, as predicted, kept its base interest rates on loans unchanged at today's meeting, the expert stated.

On Friday, the leaders of growth on the stock market were shares of the retail trader of petroleum products Eurotrans (+9.8%). The leaders of the decline were PhosAgro shares (-1.14%).

If the favorable situation persists, the MOEX index may try to consolidate above 2,800 points, according to BCS World of Investments. The company's forecast for September 23 is 2,725 - 2,825 points, the forecast for the yuan-to-ruble rate is 12.8-13.2 rubles, at the dollar exchange rate set by the Central Bank at 91-93 rubles.

According to the forecast of Freedom Finance Global, on Monday the MOEX index may move in the range of 2,700-2,800 points, the yuan-to-ruble rate will be in the range of 13-13.4 rubles, the US dollar will vary in the range of 91-94 rubles, the euro rate is expected to be in the range of 101-104 rubles.