MICEX, RTS indexes in the green in July

TASS Russian News Agency | Jul 31, 2020 at 7:47 PM

/Update/

MOSCOW, July 31. /TASS/. The MOEX Russia Index rose by 6% to 2,910.02 points in July, according to data of the Moscow Exchange.

The RTS index added 1.7% over the month and reached 1,213.3 points.

The MOEX Russia Index gained 1% and the RTS Index grew by 0.17% as of the close of business on Friday.

The dollar rose by 4.4% against the ruble to 74.38 rubles and the euro gained 9.6% to 87.73 rubles within this month. Gold reached the all-time high value of $2,005 per Troy ounce. "Following a short-term correction, the precious metal will return to the growth to the side of $2,025 [per ounce]," Anna Bodrova from Alpari comments.

Brent oil futures prices with settlement in July 2020 settled above $35 a barrel, showing the 34% increase in May.

"The majority of commodity assets are again in the green zone. Gold dynamics is particularly demonstrative, benefiting from weakness of the US dollar on the forex market and on the back of higher uncertainty regarding COVID-19 spread rates as fall becomes closer," Alexander Bakhtin from BCS Premier says.

Chances are higher for Russian stocks to be in the green on Monday, August 3, Alexander Osin from Freedom Finance says. "Mixed dynamics of international markets has not yet limited the Russian market in the opportunity of closing the gas in price recovery rates against a considerable number of counterparts in the developing and developed stock segments," the expert comments.

The forecast range of BCS Premier for the MOEX Russia Index is 2,880-2,920 points on Monday. Freedom Finance believes the expected closing range for the MOEX Russia Index on Monday will be 2,890-2,930 points.