Russian stock indices decline as trading on Moscow Exchange closes

Business & Economy April 28, 19:28

The MOEX Index fell 1.31% to 2,696.58 points, while the dollar-denominated RTS Index fell 1.16% to 1,137.27 points

MOSCOW, April 28. /TASS/. The MOEX Index fell 1.31% to 2,696.58 points by the end of the main trading session on Tuesday, while the dollar-denominated RTS Index fell 1.16% to 1,137.27 points. The yuan rate rose 4.05 kopecks to 10.98 rubles.

"Today, we're still seeing the aftershocks of Friday's Central Bank meeting — the stock market continues to decline. Judging by the performance of the heavyweights on the MOEX index, the decline is primarily driven by Gazprom shares," said Lyudmila Rokotyanskaya, a stock market expert at BCS World of Investments.

On Tuesday, Surgutneftegas’ preferred shares were the only gainers, adding 0.48% by the close. The biggest decliners were Mechel preferred shares (-6.88%), common shares of St. Petersburg Exchange (-6.62%), Samolet (-5.63%), Fesco (-5.6%), and UWC (-5.53%).

"By evening, almost all stocks on the MOEX index are in the red. In the middle of the day, news broke about the UAE's withdrawal from OPEC, which will lead to greater price uncertainty going forward," noted Andrey Alekseev, Senior Portfolio Manager at the Pervaya Asset Management company.

BCS World of Investments' forecast for the MOEX Index for Wednesday is 2,690-2,720 points. The forecast for the dollar and yuan exchange rates is 74.68-76.14 rubles and is 10.89-11.15 rubles respectively.

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