Russian stock indices mixed as trading closes on Moscow Exchange on Thursday

webnexttech | Russian stock indices mixed as trading closes on Moscow Exchange on Thursday

MOSCOW, March 28. /TASS/. The Russian stock indices moved in different directions in the course of trading on the Moscow Exchange on Thursday. By the end of the trading session, the MOEX index increased by 0.26% to 3,312.77 points, the dollar-denominated RTS index decreased by 0.15% to 1,128.26 points. The yuan-to-ruble exchange rate increased by 0.052% to 12.71 rubles, the dollar-to-ruble rate went up by 0.19% to 92.5 rubles, the euro -to-ruble rate edged up by 0.09%, to 99.99 rubles. “The ruble began to lose ground, and oil prices rose, which stimulated purchases. At the same time, there are no clear drivers for strong movements now, tense geopolitics is also holding back demand,” said investment strategist at BCS World of Investments Alexander Bakhtin. The US GDP growth estimate for the fourth quarter of 2023 was improved to 3.4% from 3.2%, contrary to analysts’ expectations. Meanwhile, the American economy grew noticeably slower at the end of the year than in the third quarter (4.9%), the expert added. The growth leaders by the middle of the session were shares of Russneft (+3.74%), preferred shares of Bashneft (+3.10%), receipts of Ozon (+2.57%), shares of Rosneft (+ 1.32%), preferred and ordinary shares of Sberbank (+1.23% +1.13%), preferred shares of Surgutneftegas (+1.09%). By the middle of the session, the leaders of decline shares of Polymetal (-4.4%), shares of PIK (-1.62%), quoted prices of Severstal (-1.46%), shares of Acron (-1.45) shares of Samolyot (-1.24%). According to a forecast by the BCS World of Investments, the MOEX index will be in the range of 3,250-3,350 points, the dollar-to-ruble rate will be in the range of 91.5-93.5 rubles. Freedom Finance Global expects that tomorrow the MOEX index may move in the corridor of 3,250-3,350 points, the dollar-to-ruble rate may spend the trading day in the range of 91-93 rubles, the euro-to-ruble rate will be in the range of 99-101 rubles, the yuan-to-ruble rate will be in the range of 12.6-13 rubles.

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