MOEX Russia, RTS indexes close mixed by end of trading session, Brent price up 2.57%

TASS Russian News Agency | Jun 29, 2020 at 8:43 PM

MOSCOW, June 29. /TASS/. Russian market indices ended the trading session on Monday with mixed dynamics. The ruble-denominated MOEX Russia Index gained 0.22% to 2,767.95 points by the close of business on the Moscow Exchange. The dollar-denominated RTS Index dropped by 0.56% to 1,239.81 points, according to trading data.

The dollar rose by 0.56% and reached 70.19 rubles. The euro added 0.65% and amounted to 78.84 rubles.

Meanwhile, Brent futures increased by 2.57% to $41.7 a barrel on the London-based ICE.

Despite the positive of trading platforms afternoon, the overall market mood and oil prices remain unstable, Alexander Bakhtin from BCS Premier comments. "The number of COVID-19 cases worldwide is over 10 mln; a recurrent disease outbreak was registered in the US. The virus factor threatens by slower recovery of the global economy than expected earlier," the expert says.

The news background associated with the more active pandemic in the US will continue applying pressure on global markets and Russian stocks, Bogdan Zvarich from Promsvyazbank says in a comment.

Investors will continue focusing on the macroeconomic statistics, Bakhtin noted. "June PMIs in the production sector and the service sector of China will be important on Tuesday. The domestic market will also continue keeping a close eye on the price situation in the crude oil market," the expert said.

The probability of the MOEX Russia Index drop seems rather high, Alexander Osin from Freedom Finance says.

The forecast range of the MOEX Russia Index for Tuesday is 2,720-2,780 points, according to BCS Premier. Freedom Finance expects the range for the MOEX Russia Index tomorrow to be 2,740-2,775 points.