All news

Russian stock market indices in the red on Friday — market data

The MOEX Russia Index lost 1.05% to 2,604.55 points, while the RTS Index tumbled 2.12% to 1,001.86 points

MOSCOW, October 3. /TASS/. The Russian stock market ended the trading session on Friday with declining indicators, according to Moscow Exchange data.

The MOEX Russia Index lost 1.05% to 2,604.55 points. The RTS Index tumbled 2.12% to 1,001.86 points. The yuan rate moved upward by seventeen kopecks to 11.49 rubles.

"The MOEX Russia Index dropped to minimums of the year at 2,600 points. The attempts to buy out the dip did not bear fruit today as well, although the ruble suffered losses against the yuan, and oil prices went up. Obviously, an improvement of the market situation alone was not enough to organize a rebound, especially before the week-end. The bearish factors prevail - these are the sharp geopolitics, strengthening of sanctions and expectations of a longer period of the tough monetary policy in the light of the latest alarming statistical data and fiscal initiatives of the Ministry of Finance," Alexander Shepelev from BCS Investment World said.

"Growth leaders on the falling stock market were Surgutneftegaz ordinary stocks (+4.1%) due to information about further contraction of currency sales by a factor of two by the Finance Ministry within the fiscal rule framework and expectations of ruble weakening," Natalya Milchakova from Freedom Finance Global said.

Bashneft ordinary stocks fell the most (down 5.7%), probably because of the oil price drop, she added.

BCS Investment World forecasts the MOEX Russia Index to be within 2,575-2,725 points on Monday. Freedom Finance Global believes the MOEX Russia Index will move within the corridor of 2,600 - 2,700 points.