Russian stock indices falling on Tuesday — market data
The ruble-denominated MOEX Russia Index dropped by 1.03% to 2,756.76 points, while the dollar-denominated RTS Index also plunged by 1.03% to 886.56 points
MOSCOW, November 12. /TASS/. Russian stock indices ended the trading session on Tuesday in the red, according to market data.
The ruble-denominated MOEX Russia Index dropped by 1.03% to 2,756.76 points. The dollar-denominated RTS Index also plunged by 1.03% to 886.56 points. The yuan moved down by 0.1% to 13.5 rubles.
"Russian stocks were affected by technical overheating after a wave of proactive growth and ruble strengthening attempts. The market could also respond to reports on new legislative initiatives related to income taxation for coal and oil and gas sector undertakings," Alexander Shepelev from BCS Investment World said.
The sentiment was predominantly negative in international markets. "November economic mood indices from ZEW for Germany and the entire Euro area were released much worse than the forecasts. The OPEC again lowered the forecast for oil demand growth in 2024-2025 in the monthly report published today," the expert added.