Russian stock indices MOEX, RTS up 1.34-1.35% as trading closes on Wednesday

TASS Russian News Agency | Apr 8, 2020 at 5:17 PM

MOSCOW, April 8. /TASS/. The MOEX index grew by 1.34% to 2,670.12 points, the RTS index went up by 1.35% to 1,114.6 points, according to the trading data of the Moscow Stock Exchange.

As of 7:25 p.m. Moscow time, the dollar-to-ruble rate decreased by 0.12% to 75.453 rubles, the euro-to-ruble rate dropped by 0.47%, to 81.908 rubles.

The cost of June Brent crude oil futures on the London ICE fell by 0.17% to $ 32.37 per barrel.

In the middle of the week, the Russian stock market showed mixed dynamics amid anticipation of the upcoming consultations of OPEC+, BCS Prime financial analyst Sergey Deineka noted.

The anxiety of investors grew following reports of record one-day coronavirus mortality rates in the US state of New York and in the UK, the expert added.

Forecast for tomorrow

On Thursday, April 9, investors will focus their attention on the OPEC+ consultations, which are expected to be held in a video conference mode, Deineka noted.

"Of course, data on the growth of the pandemic and assessments of its damage to the global economy will be another important factor," he added.

On Thursday, statistics on the February trade balance of Germany and a large block of statistics on the UK economy will be published.

According to BCS Premier, the MOEX index on Thursday may be in the range of 2,570-2,750 points.

As for the national currency, in case of successful negotiations of the oil exporting countries, the ruble may strengthen against the dollar at the level of 73.8-75.2 rubles. If the parties fail to come to an agreement, oil price will continue to decline and the ruble will drop to 76-78 rubles per $1.