MOEX Russia, RTS indexes falling by end of trading session, Brent price up 0.78%

TASS Russian News Agency | Jul 11, 2019 at 4:37 PM

MOSCOW, July 11. /TASS/. Russian market indexes ended the trading session on Thursday with a downward trend. The ruble-denominated MOEX Russia Index declined by 1.17% to 2,789.66 points by the close of business on the Moscow Exchange. The dollar-denominated RTS Index lost 0.62% and dropped to 1,398.88 points.

The dollar declined by 0.56% to 62.82 rubles. The euro lost 0.51% and dropped to 70.7 rubles during the trading session.

Meanwhile, Brent futures for September 2019 settlement grew by 0.78% to $67.08 a barrel on the London-based ICE.

Urals-Primorsk oil futures with delivery this September stayed flat at $60.7 per barrel on St. Petersburg’s SPIMEX.

"The Russian stock market continued falling on Thursday, despite the moderately positive external background. The situation on the energy market, where the Brent oil futures continued its yesterday’s upward movement and reached $67 a barrel, could support our stocks," Bogdan Zvarich from PSB says. Despite the continuing interest in risky assets, a wave of profit fixing on long position takes place on the Russian market, he adds.

Concerns and sales of ruble-denominated investment assets could be prompted by quick descent of the US dollar down to a psychologically important level of 62.5 rubles, frequently used by market players as a short-term hedge when buying Russian stock, Alexander Osin from Freedom Finance says.

Russian stock indices are expected to grow tomorrow, Freedom Finance noted.