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Russian stock indices in the red as trading on Moscow Exchange closes

The yuan exchange rate rose by 3 kopecks to 11.94 rubles

MOSCOW, September 11. /TASS/. By the end of the main trading session on the Moscow Exchange the MOEX index fell by 0.21% to 2,908.14 points, the dollar-denominated RTS index went down by 1.08% to 1,069.43 points. The yuan exchange rate rose by 3 kopecks to 11.94 rubles.

"The MOEX Index suffered mostly moderate losses on Thursday, sometimes retreating to 2,900 points. Geopolitical uncertainty calls for caution, the coming meeting of the Central Bank contributes to anticipation. The Federal Statistics Service’s data on inflation, released the day before, showed a further decline in the rate of annual price growth to around 8.1%. The ruble fell a little deeper, but then restored its daily losses, while the price of oil fell, Brent is falling to $66," said Alexander Shepelev, an expert on the stock market at BCS World of Investments.

"The growth leaders among the stocks included in the indices were VTB Bank (+5.11%), UGK (+3.40%), Alrosa (+1.84%), Rusal (+1.70%) and Rosseti (+1.44%). The day's outsiders were Rostelecom (-1.93%), NLMK (-1.91%), Renaissance Insurance (-1.78%), T-Technologies (-1.69%) and Bank Saint Petersburg (-1.68%)," noted FG Finam analyst Alexey Kalachev.

The BCS World of Investments forecast for the ruble exchange rate for Friday is 83.5-85.5 rubles per US dollar and 11.7-12.2 rubles per Chinese yuan. The forecast for the MOEX index is 2,850 - 2,950 points. According to Freedom Finance Global, on September 12, the MOEX index will show fluctuations in the range of 2,900-3,000 points. The forecast for the dollar, euro and yuan to ruble exchange rates is 84-86, 98-100 and 11.7-12.1 rubles, respectively.