Russian stock market closes lower in major indices
The yuan fell 13.8 kopecks to 10.469 rubles
MOSCOW, May 26. /TASS/. The MOEX Index fell 0.69% to 2,580.25 points at Tuesday's close of the main trading session on the Moscow Exchange, while the dollar-denominated RTS Index dropped 0.86% to 1,134.17 points. The yuan fell 13.8 kopecks to 10.469 rubles.
"The MOEX Index hit a new annual low of 2,573 points on Tuesday, after which it tried to pare its losses. However, buyers' efforts were insufficient to push the benchmark back above 2,600 points. Geopolitics is the main drag on sentiment," noted Andrey Smirnov, a stock market expert at BCS World of Investments. "Oil prices are again approaching $100 after the unexpected US attacks on Iranian targets. The ruble exchange rate has stabilized."
"NCSP shares (+3.8%) rose in price after the company's board of directors announced dividends for 2025," noted Natalya Milchakova, leading analyst at Freedom Finance Global.
She noted that the top decliners were UGC shares (-10.1%). She believes the failed auction for the sale of the company's state-owned shares could have triggered the drop.
BCS World of Investments forecasts the MOEX Index for Wednesday at 2,600-2,550 points, the dollar at 71-72 rubles, and the yuan at 10.5-10.7 rubles.
Freedom Finance Global predicts the MOEX Index will move to the 2,550-2,650 range on May 27. The dollar, euro, and yuan forecasts for Wednesday are 71-73 rubles, 82-84 rubles, and 10.4-10.8 rubles, respectively.