Russian stock indices mixed as Friday’s trading closes on Moscow Exchange

Business & Economy October 18, 19:48

The MOEX index fell by 0.42% to 2,751.90 points, while the dollar-dollar denominated RTS index rose by 0.33% to 899.12 points

MOSCOW, October 18. /TASS/. The Russian stock indices showed mixed dynamics by the end of trading session on the Moscow Exchange on Friday.

The MOEX index ended the week trading in the range of 2,700-2,800 points. Following the main session, the MOEX index fell by 0.42% to 2,751.90 points, while the dollar-dollar denominated RTS index rose by 0.33% to 899.12 points.

The yuan-to-ruble exchange rate fell by 1.14% in a day, to 13.39 rubles.

"The coming weekend, the strengthening of the ruble and the weakness of oil prices have led to uncertain market dynamics. In addition, buyers are being held back by the expectation of the Central Bank meeting on the key rate next Friday, where monetary conditions may be tightened again. The day turned out to be favorable for metallurgists - gold, silver and non-ferrous metals rose in price," notes Alexander Shepelev, an expert on the stock market at BCS World of Investments.

On Friday, the leaders of growth on the Russian stock market were Sovcomflot shares (+0.98%), despite the release of ambiguous IFRS data for the first half of 2024.

The leaders of decline were shares of United Wagon Company (-5.5%) due to a correction after the recent rapid growth, notes Natalia Milchakova, leading analyst at Freedom Finance Global.

According to a forecast by BCS World of Investments, on Monday, October 21, the MOEX index will vary in the range of 2,720-2,820 points, while the yuan-to-ruble exchange rate on the Moscow Exchange will be 13-13.5 rubles. The dollar may retreat to 95 rubles.

According to Freedom Finance Global's expectations, on Monday, the MOEX index may fluctuate in the range of 2,750-2,780 points. The dollar will trade in the range of 95-97.5 rubles, the euro will trade in the range of 103-105 rubles, the yuan rate will vary within 13.2-13.8 rubles.

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