MOSCOW, October 20. /TASS/. By the end of main trading session on the Moscow Exchange the MOEX Index rose 0.89% to 2,744.83 points, while the dollar-denominated RTS Index rose 0.41% to 1,062.81 points. The yuan rate fell 10 kopecks to 11.27 rubles.
"The MOEX Index continued its rise at the start of the week, reaching 2,750 points. Geopolitical hopes supported the rise for the fourth consecutive session. The Russian Foreign Ministry announced a telephone conversation between Foreign Minister Sergey Lavrov and US Secretary of State Marco Rubio. Preparations have begun for the summit of the Russian and US presidents in Budapest, and the date of the meeting can be announced soon. In this context, information about the upcoming approval of the 19th EU sanctions package seems to be of little concern to market participants," said Alexander Shepelev, a stock market expert at BCS World of Investments.
"Bashneft’s ordinary shares (+6.7%) were the top performers on the Russian stock market, possibly due to the undervaluation of the securities," noted Natalia Milchakova, leading analyst at Freedom Finance Global.
According to Dmitry Lozovoy, an analyst at FINAM, other leaders of growth were shares of LSR (+5.24%), PIK (+4.51%), and Pozitiv Group (+4.41%).
According to Milchakova, Mechel shares (-1.6%) were the leaders of decline, possibly during a correction after their rally.
The BCS World of Investments forecast for the MOEX Index for October 21 is 2,675-2,775 points. The forecast for the dollar-to-ruble rate is 80-83 rubles, and the yuan-to-ruble is 11.2-11.6 rubles.
Freedom Finance Global expects that the MOEX Index will fluctuate in the range of 2,700-2,800 points. The forecast for the dollar, euro, and yuan exchange rates on Monday is 79.5-81.5 rubles, 93-95 rubles, and 11.2-11.6 rubles, respectively.