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

Business & Economy October 25, 19:40

The yuan-to-ruble exchange rate fell by 0.28% in a day to 13.51 rubles

MOSCOW, October 25. /TASS/. The MOEX index ended the week with a decline below 2,700 points. By the end of the main session, the ruble indicator fell by 2.14% to 2,660.36 points, the dollar-denominated RTS index went down by 2.06% to 866.98 points.

The yuan-to-ruble exchange rate fell by 0.28% in a day to 13.51 rubles.

"The market was ready for raising of the key rate, but the Central Bank made a decision tougher than baseline expectations, not only bringing the rate to 21%, but also not ruling out an increase. Such a high level of rates means a slowdown in economic activity, a decrease in the availability of credit, and more expensive debt servicing," said Alexander Shepelev, an expert on the stock market at BCS World of Investments.

The leaders of growth on the falling Russian stock market were shares of the energy company Inter RAO (+1.1%) after the publication of a strong report under RAS for 9 months of 2024.

The leaders of decline were shares of Sistema Holding (-2.4%), apparently due to the fact that now lending and debt financing for the holding itself and its subsidiaries will be less accessible, according to leading analyst of Freedom Finance Global Natalia Milchakova.

According to BCS World of Investments, on Monday, October 28, the MOEX index will trade in the range of 2,650-2,750 points, the ruble-to-yuan exchange rate will be in the range of 13.7-13.9 rubles, the dollar rate may vary between 96 and 98 rubles.

Freedom Finance Global expects that on Monday the MOEX index will fluctuate in the range of 2,650 - 2,750 points. The dollar rate may trade in the range of 95-97.5 rubles, the euro rate may fluctuate in the range of 104-106 rubles, the yuan rate will be within 13.3-13.9 rubles.

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