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Russian stocks close in the red on Friday

The ruble-denominated MOEX Index decreased by 1.88%, the dollar-denominated RTS Index fell by 2.82%

MOSCOW, July 10. /TASS/. Russia’s stock market closed in the red on Friday as the ruble-denominated MOEX Index lost 1.88% to 2,145.65 points, while the dollar-denominated RTS Index fell by 2.82% to 881.67 points. The yuan exchange rate against the ruble added 6 kopecks to 11.37 rubles.

"The MOEX Index spent the week largely driven by sellers, with the benchmark hitting lows not seen since late 2022, just above the 2,100-point mark. Trading volumes contracted even more sharply heading into the weekend," said Andrey Smirnov, stock market analyst at BCS World of Investment.

BCS World of Investment projects the MOEX Index at 2,100-2,200 points, and the dollar and yuan exchange rates at 76-78 rubles and 11.1-11.4 rubles, respectively, on Monday.

Freedom Global expects the MOEX Index at 2,100-2,200 points on July 13. The USD/RUB pair is expected to trade at the 76-78 rubles range, the EUR/RUB pair is projected at the 87-89 rubles range, while the CNY/RUB pair is expected at the 11.2-11.7 rubles range.

According to Tsifra Broker, the market has returned to levels below 2,200 points, and the current trend is likely to persist given the lack of growth drivers and the ongoing dividend season. The index is expected to trade within the 2,100-2,250 point range, with a probable shift toward the lower end of that range.