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Russian stock indices up as trading on Moscow Exchange closes

The yuan-to-ruble rate rose 7 kopecks to 11.29 rubles

MOSCOW, October 30. /TASS/. The MOEX Index rose 1.35% to 2,557.48 points at the end of Thursday's main trading session, while the dollar-denominated RTS Index edged up 0.05% to 1,000.78 points. The yuan-to-ruble rate rose 7 kopecks to 11.29 rubles.

"The MOEX Index rose vigorously on Thursday, almost frontally, reaching resistance at 2,560 points. The Federal Statistics Service’s report on inflation may have given buyers confidence - inflation has switched back to decline both weekly and year-on-year. Heavyweight

Lukoil shares showed strong growth on news of the sale of foreign assets. Furthermore, the ruble weakened slightly," noted Alexander Shepelev, a stock market expert at BCS World of Investments.

"The top gainers on the stock market were Whoosh Holding shares (+17.9%), without any news, but most likely due to the issuer's share buyback program," noted Natalia Milchakova, leading analyst at Freedom Finance Global.

She noted that the leaders of decline were shares of Inarktika (-2.2%), most likely due to the stock's overvaluation.

The forecast by BCS World of Investments for the MOEX Index on October 31 is 2,475-2,575 points. The dollar-to-ruble exchange rate is expected to vary in the range of 79-81 rubles, while the yuan-to-ruble rate is expected between 11.2 and 11.4 rubles.

According to Freedom Finance Global, the MOEX Index will fluctuate between 2,500 and 2,600 points on Friday. The forecast for the dollar, euro, and yuan exchange rates on Friday is 78-80 rubles, 91-93 rubles, and 11-11.5 rubles, respectively.