Russian stock indices mixed as main trading session closes

Business & Economy November 09, 20:29

BCS World of Investments forecasts the MOEX Index to trade between 2,420 and 2,520 points on Tuesday

MOSCOW, November 9. /TASS/. By the end of the main trading session on Monday, the MOEX Index had risen by 0.38% to 2,473.14 points, while the dollar-denominated RTS Index fell by 0.37% to 941.46 points. The yuan exchange rate increased by 8.65 kopecks to 12.369 rubles.

"Market participants priced in inflation data from the Federal Statistics Service: the weekly figure showed a marginal decline for the first time since mid-August, while the annual rate fell below 7%. Meanwhile, oil prices continued to trend downward. For exporters' shares, the impact of falling oil prices was partially offset by the weakening ruble. It is also worth noting the rise in prices for most metals," said Andrey Smirnov, a stock market expert at BCS World of Investments.

Leading the gains were shares of Kamaz (+12.5%), Whoosh Holding (+6.7%), Rostelecom common shares (+6.3%), United Wagon Company (+6.1%), OGK-2 (+5.8%), Polyus (+5.5%), Genetico (+5.3%), and Magnit (+5.3%), reported Igor Dodonov, an analyst at Finam Financial Group.

The biggest decliners were shares of Eurotrans (-20.1%), Segezha (-5.8%), VK (-3.8%), Alrosa (-2.9%), Sistema (-2.1%), and Rosneft (-1.9%), the analyst added.

According to Freedom Global analyst Vladimir Chernov, the drop in Eurotrans shares followed reports that the Trassa gas station chain had halted operations and 57 of its filling stations had been seized by the lessor.

BCS World of Investments forecasts the MOEX Index to trade between 2,420 and 2,520 points on Tuesday. In the near term, the dollar could rise toward 83 rubles, while the yuan may approach 12.5 rubles.

Freedom Global analyst Vladimir Chernov believes that during the next trading session, the MOEX Index could move within a range of 2,400 to 2,550 points.

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