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Russian stock market closes with major indices up

BCS World of Investments expects the MOEX Index to consolidate within the 2,230-2,270 point range on Tuesday

MOSCOW, September 7. /TASS/. By the end of the main trading session, the MOEX Index had risen by 0.69% to 2,269.05 points, while the dollar-denominated RTS Index climbed 1.16% to 829.32 points. The yuan exchange rate rose by 11 kopecks to 12.89 rubles.

"Rosneft shares continue to lead liquid securities today. The surge in investor interest was sparked by news regarding the launch of the major Vostok Oil production project," noted Dmitry Babin, a stock market expert at BCS World of Investments.

"Shares of Rosseti (+4.7%) emerged as the market's biggest gainers today, likely fueled by anticipation ahead of the company's board of directors meeting held later in the day," said Natalia Milchakova, lead analyst at Freedom Global.

Leading the decline, she added, were shares of Eurotrans (-5.1%), following the arrest of its board chairman and several top executives earlier today.

BCS World of Investments expects the MOEX Index to consolidate within the 2,230-2,270 point range on Tuesday. In the short term, the yuan may consolidate between 12.7 and 13 rubles.

Freedom Global anticipates that on Tuesday, the MOEX Index could fluctuate between 2,200 and 2,300 points. The firm's forecasts for the dollar, euro, and yuan exchange rates stand at 85-87 rubles, 99-101 rubles, and 12.7-13.1 rubles, respectively.

Meanwhile, Tsifra Broker noted that exchange rates might consolidate for the time being within the ranges of 12.6-13 rubles per Chinese yuan, 85-88 rubles per US dollar, and 98-101 rubles per euro.