Russian stock indices MOEX, RTS up 1.78-2.05% by end of trading on Tuesday

TASS Russian News Agency | Sep 15, 2020 at 7:11 PM

MOSCOW, September 15. /TASS/. The Russian stock market continued to recover on Tuesday.

As a result of trading, the MOEX index rose by 1.78%, to 2,980.58 points, and the RTS index climbed 2.05%, to 1,253.68 points.

As of 7:19 pm Moscow time, the dollar-to-ruble rate decreased by 0.43%, to 74.95 rubles, the euro rate fell by 0.49% to 88.82 rubles.

Russian stocks were supported by the situation on the energy market, where purchases intensified in the evening, chief analyst at Promsvyazbank Bogdan Zvarich said.

As a result the price of the nearest futures contract for Brent crude rose to $39.9 per barrel, he added.

The growth on the Russian market was also facilitated by the dynamics of Western sites.

"In Europe, by the evening, the main indices added within 1.3%, and in the US, after the first hours of trading, the Dow Jones and S&P500 rose by 0.5% and 1%, respectively," the expert said.

"Investors were pleased with the statistics of the second largest economy in the world: industrial production and retail sales in China increased. This is another evidence of the Chinese economy's potential for a faster recovery even in the context of the coronavirus crisis," BKS Premier investment strategist Alexander Bakhtin said.

The increasing incidence in Europe continues to put pressure on markets.

"Nevertheless, investors' sentiments are taking into account the faster creation and market launch of an effective vaccine," the expert added.