Russian stock market closes with major indices decline

Business & Economy February 17, 19:33

The yuan exchange rate dropped by 13.5 kopecks to 10.99 rubles

MOSCOW, February 17. /TASS/. The MOEX index declined by 0.62% at the close of the main trading session on Tuesday to 2,765.33 points, while the dollar-denominated RTS index fell 0.77% to 1,135.2 points. The yuan exchange rate dropped by 13.5 kopecks to 10.99 rubles.

"The MOEX index continued consolidating below the 2,800-point mark today, with the benchmark moving into negative territory in the second half of the day. Investors are monitoring the trilateral Russia-US-Ukraine negotiations that began today in Geneva and, in the absence of concrete developments, are refraining from active moves. In addition, oil and precious metals prices turned downward amid a strengthening dollar," stock market expert at BCS World of Investments Alexander Shepelev said.

The Russian equity market ended the trading day slightly in the red amid geopolitical uncertainty and falling commodity prices, leading analyst at Freedom Finance Global Natalia Milchakova noted.

Stock market

"Shares of Whoosh Holding (+8.4%) led gains on the stock market, possibly as the issuer is repurchasing its own shares under the existing buyback program," Milchakova said.

According to her, the biggest decliners were shares of gold miner Seligdar (-3.6%) amid falling gold prices.

Outlook for February 18

BCS World of Investments expects the MOEX index to trade in the range of 2,720-2,820 points on Wednesday. The forecast for the ruble stands at 76-78 per dollar and 10.9-11.2 per yuan.

Freedom Finance Global anticipates that on Wednesday the MOEX index will fluctuate within the 2,700-2,800-point range. The forecast for Wednesday puts the dollar, euro, and yuan at 75-77 rubles, 89-91 rubles, and 11-11.4 rubles, respectively.

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