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Russian stock indices mixed as trading on Moscow Exchange closes

The yuan exchange rate fell by 18.55 kopecks to 11.56 rubles

MOSCOW, September 15. /TASS/. By the end of the main trading session on the Moscow Exchange the MOEX Index fell by 1.05% to 2,809.85 points, while the dollar-denominated RTS Index rose by 0.51% to 1,065.54 points. The yuan exchange rate fell by 18.55 kopecks to 11.56 rubles.

"The MOEX Index began the trading five-day period with a decline to 2,800 points. The Central Bank's more cautious move than expected to lower the key rate, the ruble's reversal toward strengthening, and new sanctions threats are the main reasons for the downward movement. At the same time, commodity assets were mostly growing in price today," said Alexander Shepelev, an expert on the stock market at BCS World of Investments.

Stock Market

"The leaders of growth on the stock market were shares of Far-Eastern Shipping Company, most likely due to the corporation's optimistic plans to develop cooperation with African and Latin American countries. The leaders of decline were Whoosh Holding shares, most likely due to the overvaluation of the securities," noted leading analyst at Freedom Finance Global Natalia Milchakova.

Forecast for September 16

The BCS World of Investments forecast for the ruble exchange rate for Tuesday is 82-85 rubles per US dollar and 11.4-11.8 rubles per Chinese yuan. Forecast for the MOEX Index is 2,750 - 2,850 points.

According to Freedom Finance Global, on September 16, the MOEX Index will move in the range of 2,800 - 2,900 points. Forecast for the dollar, euro and yuan to the ruble: 81-83 rubles, 96-98 rubles and 11.4-11.9 rubles. respectively.