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28 Feb, 17:37

Russian stock market indices falling on Friday — market data

BCS Investment World forecasts the MOEX Russia Index to be within 3,150-3,300 points on Monday

MOSCOW, February 28. /TASS/. The Russian stock market ended the trading session on Friday with the downward trend of indicators, according to Moscow Exchange data.

The MOEX Russia Index lost 1% to 3,200.48 points. The RTS Index edged down by 1.62% to 1,142.37 points. The yuan rate moved up by 10.2 kopecks to 12.123 rubles.

"The MOEX Russia Index ended the week with a decline. The adjustment in recent days was well expected. Firstly, the pause of background news related to negotiations between Russia and the United States lingered and geopolitical optimism started fading gradually. Secondly, the market situation had its effect: oil prices retreated closer to $70 [a barrel] against the relatively strong ruble. Thirdly, fresh inflation data from Rosstat [the Russian statistical agency] pointed to continuing price pressure, which fuels expectations for a longer period of high rates," Alexander Shepelev from BCS Investment World said.

BCS Investment World forecasts the MOEX Russia Index to be within 3,150-3,300 points on Monday. Freedom Finance Global believes the MOEX Russia Index will move within the corridor of 3,250 - 3,350 points.