MOSCOW, May 29. /TASS/. The benchmark MOEX Index shed 0.71% to finish Friday's main session at 2,565.61 points, while the dollar-denominated RTS Index slid 0.22% to 1,137.98 points. The yuan edged up 2 kopecks to 10.48 rubles.
"The Russian stock market wrapped up the week and the month down near year-to-date lows around 2,550 points on the MOEX Index. Sellers have a whole host of triggers – escalating geopolitical tensions with Ukraine, dropping oil prices, a strong ruble, disappointing dividend decisions by certain issuers, and the approaching weekend," BCS World of Investments market expert Andrey Smirnov said.
"M.Video shares (+5.3%) surged after the issuer announced plans to slash the size of its previously declared secondary public offering (SPO) threefold," Freedom Finance Global lead analyst Natalia Milchakova noted.
Samolet Group shares (-4.7%) led the losses, likely driven by a valuation adjustment, she added.
BCS World of Investments forecasts the MOEX Index to trade between 2,500 and 2,600 points next week. During the first week of summer, major currencies could test the upper bounds of their trading bands at 71-73 rubles per dollar and 10.4-10.7 rubles per yuan.
Freedom Finance Global expects the MOEX Index to hover within the 2,550-2,650 range on Monday. Its Monday forecasts for the dollar, euro, and yuan stand at 71-73 rubles, 82-84 rubles, and 10.3-10.8 rubles, respectively.