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30 Jan, 18:04

Russian stock market indices rising on Thursday — market data

The Fed left the rate unchanged as expected, while the ECB slashed the interest rate by 0.25 percentage point, " Alexander Shepelev noted

MOSCOW, January 30. /TASS/. The Russian stock market ended the trading session on Friday with growing indicators, according to Moscow Exchange data.

The MOEX Russia Index had an uptick by 0.57% to 2,967.47 points. The RTS Index edged up by 0.58% to 953.84 points. The yuan lost 16.55 kopecks over the day to 13.231 rubles.

"The balance of factors is such that there are no causes for sale but drivers for further confident growth are not enough also. The ruble does not hasten to retreat despite the end of the fiscal period; oil stalls below $76 per barrel, while the geopolitical background still makes no clear signals," Alexander Shepelev from BCS Investment World said.

The Fed left the rate unchanged as expected, while the ECB slashed the interest rate by 0.25 percentage point, the expert added.

"Russneft stocks turned out to be the growth leader in the Russian stock market, probably in anticipation of strong financial results for 2024," Elena Milchakova from Freedom Finance Global noted. "Rusal securities took the lead in declining, likely on news about possible EU sanctions against Russian aluminum exporters," she added.

"The Russian currency benefits from the season - the current account surplus is usually at its highest over the year in late winter - early spring. Expectations of geopolitical improvements also restrain devaluation," BCS Investment World said.

Freedom Finance Global believes the MOEX Russia Index will move within the corridor of 2,850 - 2,950 points. BCS Investment World forecasts the MOEX Russia Index to be within 2,875-2,975 points on January 31.