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Russian stock indices plunging on Thursday — market data

The ruble-denominated MOEX Russia Index lost 0.79% to 2,492.63 points

MOSCOW, December 12. /TASS/. Russian stock indices ended the trading session on Thursday in the red, according to market data.

The ruble-denominated MOEX Russia Index lost 0.79% to 2,492.63 points. The dollar-denominated RTS Index fell by 1.44% to 755.39 points. The yuan rate dropped by 12 kopecks over the day to 13.8 rubles.

"The benchmark [the MOEX Russia Index] has again left its mark below the important level of 2,500 points. Risks of monetary nature exert pressure - the latest data of the Russian statistical agency Rosstat showed that inflation rates remain high and the Central Bank will definitely take that into account when deciding on the key rate next week," Alexander Shepelev from BCS Investment World comments.

New sanctions initiative, including the ones targeting Russian oil exports, is another cause of weakness for the sentiment. The international background was calm. "European bourses hailed the decision of the ECB, which lowered the key interest rate today by 25 basis points to 3.15% as expected, by moderate growth," the expert added.

"Commodities prices, geopolitics and ruble rate evolution will remain in the focus at the turn of the week. The coming weekend can lower the buyers’ activities," BCS Investment World said. The company forecasts the MOEX Russia Index in the range of 2,475-2,575 points on Friday.

According to Freedom Finance Global, the MOEX Russia Index can move within 2,450-2,550 points.

The Russian national statistical service Rosstat will present the first estimate of the GDP for the third quarter in this year.