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Russian stocks close in the green on Wednesday

The yuan exchange rate against the ruble lost 3.35 kopecks to 10.82 rubles

MOSCOW, May 13. /TASS/. The ruble-denominated MOEX Index added 0.18% to 2,694.72 points as the main trading closed on Wednesday while the dollar-denominated RTS Index gained 0.79% to 1,157.45 points. The yuan exchange rate against the ruble lost 3.35 kopecks to 10.816 rubles.

"The MOEX Index is showing positive dynamics despite high volatility and low trading volume - only 22.3 bln rubles. <...> The ruble is strengthening amid high oil prices," said Maxim Fedosov, portfolio manager of the Pervaya Management Company.

"The MOEX Index attempted to break through resistance at the 2,700-point mark today. On the one hand, enthusiasm for the return of the Ukraine talks to the news agenda has somewhat waned as no details have emerged. Moreover, the ruble continued to strengthen. On the other hand, oil prices are holding below $110 per barrel for Brent. This is fueling the oil and gas heavyweights in the index," said Andrey Smirnov, stock market analyst at BCS World of Investments.

BCS World of Investment projects the MOEX Index at 2,620-2,720 points, and the ruble’s exchange rates at 72.5-74.5 rubles per 1 US dollar, and 10.7-11 rubles per 1 Chinese yuan on Thursday.

Freedom Finance Global projects the MOEX Index at 2,650-2,750 points on May 14. The USD/RUB pair is expected to trade at the 73-75 rubles range, the EUR/RUB pair is projected at the 86-88 rubles range, while the CNY/RUB pair is expected at the 10.7-11.2 rubles range.