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Russian stock indices in the green as week's trading on Moscow Exchange closes

The yuan rate rose 7.8 kopecks to 10.78 rubles

MOSCOW, December 5. /TASS/. The MOEX Index rose 2.04% to 2,711.3 points following Friday's main trading session, while the dollar-denominated RTS Index rose 3.21% to 1,122.46 points. The yuan rate rose 7.8 kopecks to 10.78 rubles.

"The MOEX Index ended the week on the rise, striving to hold above 2,700 points. Market participants were supported by optimistic comments from Yury Ushakov, aide to the Russian President. He did not rule out a meeting between the Russian and US leaders in the near future. Investors also assessed the results of Vladimir Putin's state visit to India," noted Alexander Shepelev, a stock market expert at BCS World of Investments.

"Diamond miner Alrosa (+4.7%) led the stock market gains, possibly due to undervaluation and possibly also to expectations of rising demand for Russian diamonds in India," said Natalia Milchakova, lead analyst at Freedom Finance Global.

Novabev Group (-2%) again led the declines, possibly amid news from alcohol regulators about declining alcohol consumption in Russia, she added.

The BCS World of Investments forecast for the MOEX Index for December 8 is 2,600-2,700 points. The dollar exchange rate is expected in the range of 76-78 rubles, while the yuan exchange rate is expected at 10.7-11.1 rubles.

Freedom Finance Global expects the MOEX Index to fluctuate between 2,650 and 2,750 points on December 8. The forecast for the dollar, euro, and yuan exchange rates at the beginning of the week is 76-78 rubles, 88-89 rubles, and 10.6-11 rubles, respectively.