MOSCOW, August 29. /TASS/. The Russian stock market showed growth at the beginning of the week, despite the stability of the ruble exchange rate and negative sentiments on global markets.
At the end of the trading session on the Moscow Exchange, the MOEX Exchange index grew by 1.21% up to 2,296.33 points, the RTS index went up by 1.26%, up to 1,197.99 points.
The dollar-to-ruble rate fell by 0.1% to 60.39 rubles, the euro rate dropped by 0.22%, to 60.42 rubles.
Risk appetites on the market cooled down after Fed Chairman Jerome Powell's Friday speech at the annual symposium in Jackson Hole, said Alexander Bakhtin, an investment strategist at BCS World of Investments.
"The head of the US regulator admitted that the Fed will continue to actively tighten monetary policy in order to suppress high inflation," the expert explained.
On Monday, ruble assets were supported by high oil prices. The price of a Brent barrel remains around $100 amid the situation in Libya and signals from the Persian Gulf countries (Saudi Arabia, Oman, UAE) about their readiness to cut production if Iranian supplies return to the world market, Bakhtin added.
On Monday, the growth leaders of the Russian stock market were depositary receipts of Headhunter.ru (+8.8%). Natalya Milchakova, a leading analyst at Freedom Finance Global assumes that this could happen following the government's forecast that unemployment in Russia will not increase significantly this year.
Shares of Fesco (+7.43%) increased in price after the publication of strong financial results of the company for the first half of 2022, shares of the PIK group (+5.02%) rose amid growing demand for mortgages in Russia, the expert added.
The leaders of the decline were the shares of RusHydro (-1.7%) after the publication of rather weak financial results for the first half of 2022. Shares of the Moscow Credit Bank (-1.1%) and depositary receipts of the VK group (-0.92) fell without news.
According to BCS World of Investments, on August 30, the MOEX index will be in the range of 2,200-2,320 points, the forecast range for the dollar-ruble pair is 59.5-61 rubles.
According to the Freedom Finance Global forecast, the MOEX index may vary in the corridor of 2,250-2,350 points, the dollar and euro rates against the ruble will be in the range of 60-63 rubles.