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Russian stock indices mixed as trading on Moscow Exchange closes

The yuan-to-ruble exchange rate rose by 6 kopecks to 11.17 rubles

MOSCOW, May 16. /TASS/. The MOEX index rose slightly by 0.01% to 2,840.34 points following the main trading session on Friday, while the dollar-denominated RTS index fell by 0.55% to 1,107.81 points. The yuan-to-ruble exchange rate rose by 6 kopecks to 11.17 rubles.

"Investors' initial hopes regarding the negotiation process in Istanbul turned out to be overly optimistic, which led to the MOEX index falling below 2,800 points. However, the first comments after the talks somewhat improved the situation - the parties reached an agreement to hold a new meeting and prepare proposals for a settlement for the next stage of the talks," said Alexander Shepelev, an expert on the stock market at BCS World of Investments.

"The growth leaders were PhosAgro shares, which presented strong results under the international financial reporting standards (IFRS) for the first quarter," Freedom Finance Global analyst Vladimir Chernov said.

The leaders of decline by the end of the session were shares of PIK Group (-2.67%), Raspadskaya securities (-2.46%), Aeroflot securities (-1.7%) and TGK-1 shares (-1.58%).

BCS World of Investments expects that on Monday the MOEX index will be in the range of 2,800-2,900 points.

Freedom Finance Global expects that on May 19 the MOEX index will not go beyond the range of 2,800-2,900 points. The yuan exchange rate will fluctuate in the range of 11.1-11.5 rubles. The dollar exchange rate will be at around 79-83 rubles, the euro rate will fluctuate between 89 and 93 rubles.