Russian stock indices end in the green as Moscow Exchange closes

Business & Economy May 05, 19:35

The yuan edged up 3.7 kopecks to 11.052 rubles

MOSCOW, May 5. /TASS/. The MOEX Index rose 0.9% to 2,644.37 points by the close of the main trading session on the Moscow Exchange, while the dollar-denominated RTS Index climbed 1.02% to 1,105.63 points. The yuan edged up 3.7 kopecks to 11.052 rubles.

"Stock indicators are showing signs of recovery. <...> From a technical perspective, a reversal from the 2,600-point support level for the MOEX Index suggests further recovery toward the 2,700-point mark," said Alexander Dudnikov, an analyst at Tsifra Broker.

"Novatek shares (+3%) outperformed the market, likely fueled by recent estimates from European experts," noted Natalia Milchakova, lead analyst at Freedom Finance Global. According to her, Kamaz shares (-1.5%) led the decline, probably due to reports of a general crisis in the automotive market.

Freedom Finance Global expects the MOEX Index to trade within a range of 2,600-2,700 points on Wednesday. The forecast for the dollar, euro, and yuan is 74-76 rubles, 87-89 rubles, and 10.9-11.4 rubles, respectively. Dudnikov believes that exchange rates will likely continue to consolidate within the ranges of 10.9-11.3 rubles per yuan, 74-77 rubles per dollar, and 87-91 rubles per euro, with a tendency to trend toward the upper limits of these ranges.

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