Russian stock market ends Thursday’s session in the green
The yuan-to-ruble rate gained 12 kopecks to reach 11.07 rubles
MOSCOW, April 23. /TASS/. The ruble-denominated MOEX Index edged up 0.36% to 2,771.46 points by the end of Thursday's main trading session on the Moscow Exchange. The dollar-denominated RTS Index rose 0.58% to 1,166.66 points, while the yuan-to-ruble rate gained 12 kopecks to reach 11.07 rubles.
"The MOEX saw a rebound on Thursday, with buyers pushing the benchmark closer to 2,780 points. Oil prices are holding above $100 due to the ongoing blockade of the Strait of Hormuz and uncertainty surrounding US-Iran negotiations. The rise in stocks was supported by the currency factor - the ruble retreated on news that the Finance Ministry will resume fiscal rule-based operations in May," noted Andrey Smirnov, a stock market expert at BCS World of Investments.
"Mosenergo shares (+2.5%) rose despite a lack of clear catalysts, potentially driven by reports that Gazprom, the owner of Gazprom Energoholding, which includes Mosenergo, is weighing the construction of two power plants in Moscow to supply data centers," said Natalia Milchakova, leading analyst at Freedom Finance Global.
According to her, the leading decliners were shares of Samolet Group (-2.5%), which are falling without any news, but possibly in anticipation of tomorrow's Central Bank of Russia decision on the key rate.
BCS World of Investments expects the MOEX Index to vary in the range of 2,750-2,800 points on Friday, the dollar and yuan exchange rates are seen 74.5-76.5 rubles and 10.9-11.2 rubles respectively.
Freedom Finance Global estimates the MOEX Index will move in the range of 2,700-2,800 points on Friday. The forecast for the dollar, euro, and yuan exchange rates for Friday is 74-76 rubles, 88-90 rubles, and 10.9-11.4 rubles, respectively.