MICEX, RTS indexes close mixed as trading day ended

TASS Russian News Agency | Oct 16, 2020 at 6:53 PM

MOSCOW, October 16. /TASS/. Russian market indexes ended the trading session on Friday with mixed dynamics. The MOEX Russia Index dropped by 0.63% to 2,799.54 points by the close of business on the Moscow Exchange. The RTS index gained 0.05% to 1,132.8 points.

The dollar fell by 0.25% against the ruble to 77.88 rubles. The euro lost 0.16% and amounted to 91.28 rubles.

Brent oil futures with delivery in December dropped by 0.53% to $42.88 a barrel on the London-based ICE today.

A block of macro statistics from China can set the mood for markets when the new trading week starts, Alexander Bakhtin from BCS Investment World says in a comment. The GDP estimate for the third quarter, unemployment, fixed capital investments and industrial output data for September will be released. "To all appearances, the second economy of the world is recovering at a good pace and values above forecasts can ‘turn on' the interest in risk buying for a while," the expert says. Strained geopolitical background will remain as a specific factor of pressure on ruble-denominated assets, he adds.

Chances prevail for the price growth in Russian stocks, "considering the material improvement in dynamics of external factors influencing on the Russian stock market noted in late hours and growing appetite of investors for investments into the risk," Alexander Osin from Freedom Finance says.

The forecast range of BCS Investment World for the MOEX Russia Index is 2,750-2,870 points on Monday. Freedom Finance believes the expected closing range for the MOEX Russia Index on Monday will be 2,790-2,835 points.