Russian stock indices decline as trading on Moscow Exchange closes
The MOEX index fell by 0.43%, while the RTS index declined by 0.55%
MOSCOW, September 1 /TASS/. By the end of the main trading session on the Moscow Exchange on Monday, the MOEX index fell by 0.43% to 2,886.97 points, the dollar-denominated RTS index went down by 0.55% to 1,130.8 points. The yuan exchange rate fell by 2 kopecks, to 11.22 rubles.
"The MOEX index began the week with restrained dynamics, hovering around 2,900 points. Investors are waiting for news from China, where Russian President Vladimir Putin is on an official visit, and the conclusion of agreements in the energy sector is likely. In the meantime, uncertainty remains regarding the continuation of the negotiation process on Ukraine, which is holding back the bulk of buyers," Alexander Shepelev, an expert on the stock market at BCS World of Investments, said.
"In the afternoon, the growth leaders on the Moscow Exchange were [shares of] RusHydro (+1.88%), Polyus (+.76%), PIK (+1.02%) and Severstal (+0.94%). The decline leaders were Magnit (-3.83%), Mechel (-2.95%), Alrosa (-1.79%) and Seligdar (-1.52%)," Freedom Finance Global analyst Vladimir Chernov said.
BCS World of Investments forecast for the dollar and yuan exchange rates on September 2 is 81 rubles and 11.3 rubles, respectively. The MOEX Index is expected to be at 2,850-2,950 points.
According to Freedom Finance Global estimates, the MOEX Exchange Index will fluctuate in the range of 2,850-2,950 points on Tuesday. Forecast for the dollar, euro and yuan exchange rates - 80-82 rubles, 93-95 rubles and 11-11.5 rubles respectively.