Russian stock indices mixed as trading on Moscow Exchange closes
The yuan exchange rate rose by 19.3 kopecks, to 11.594 rubles
MOSCOW, September 8. /TASS/. By the end of the main trading session on the Moscow Exchange, the MOEX index rose by 0.7% to 2,921.62 points, while the dollar-denominated RTS index fell by 0.26%, to 1,117.78 points. The yuan exchange rate rose by 19.3 kopecks, to 11.594 rubles.
"The Russian stock market continued Friday's recovery growth today. The key driver is expectations of a key rate cut, with the Central Bank’s meeting expected this Friday," said Lyudmila Rokotyanskaya, an expert on the stock market at BCS World of Investments.
On Monday, the leaders of growth on the Russian stock market were shares of the energy company Saratovenergo (+13%). The leaders of decline were shares of the developer Etalon (-7.5%), leading analyst at Freedom Finance Global Natalia Milchakova said.
The forecast of BCS World of Investments for the dollar and yuan exchange rates for September 9 is 83 rubles and 11.65-11.68 rubles, respectively. The MOEX Index is expected to fluctuate in the range of 2,945 - 2,950 points.
According to estimates by Freedom Finance Global, on Tuesday the MOEX Index will show fluctuations in the range of 2,900-3,000 points. Forecast for the dollar, euro and yuan exchange rates - 83-85 rubles, 95-97 rubles and 11.3-11.9 rubles respectively.