MOSCOW, January 13. /TASS/. Russian stock indices ended the trading session on Monday with an upward trend, according to market data.
The ruble-denominated MOEX Russia Index edged up by 1.47% to 2,886.11 points. The dollar-denominated RTS Index gained 0.69% to 879.08 points. The yuan added nine kopecks to 13.81 rubles over the day.
"Purchases of oil and gas sector stocks prevailed, including heavyweight stocks of Gazprom. The market situation facilitated growth. Oil prices were kept above $80 per barrel, while the ruble sustained moderate losses," Alexander Shepelev from BCS Investment World comments.
The sanction background worsened. "However, the market is obviously not melodramatic. Investors are not rushing into conclusions, keeping in mind the upcoming change of the US President and the meeting being prepared between Russian President Vladimir Putin and [US President-elect] Donald Trump. Furthermore, pressure on Russian exports pushes the price of energy resources upward," the expert noted.
Shepelev highlighted the statistics of the China’s trade balance released in the morning. "Dollar-denominated exports increased by 10.7% year on year in December, which is materially better than projected 7.3%. Growth is observed for the ninth month in a row," he noted.
The January index of economic expectations ZEW will be released in the Euro area on Tuesday. The US will post the December index of producers prices (PPI).
Freedom Finance Global and BCS Investment World predict the MOEX Russia Index will move in the corridor of 2,800 - 2,900 points on Tuesday.