MOEX Russia, RTS indexes rising by end of trading session – market data

TASS Russian News Agency | Oct 29, 2020 at 6:18 PM

MOSCOW, October 29. /TASS/. Russian market indexes were in the green during the trading session on Thursday. The ruble-denominated MOEX Russia Index grew by 0.58% to 2,709.04 points by the close of business on the Moscow Exchange. The dollar-denominated RTS Index rose by 0.06% to 1,078.96 points, according to trading data.

The dollar dropped by 0.15% to 79.11 rubles. The euro declined by 0.84% and amounted to 92.24 rubles.

Meanwhile, Brent futures with delivery in January 2021 dropped by 0.37% and totaled $37.44 a barrel on the London-based ICE.

"The Russian stock market on Thursday had mixed dynamics in trading, with the bounce formed by the end of the day after the material correction. The negative mood on Western exchanges changed to positively neutral during the day," Alexander Bakhtin from BCS Investment World says.

Oil prices dropped below $40 per barrel on the back of the lockdown announced in Germany and France, which means the decline in the population's mobility level, the analyst says. "Growing political uncertainty related to forthcoming presidential elections in the US also applies pressure to the risk appetite," Bakhtin adds.

The dollar on Friday will be traded within the range of 78.9-80 rubles and the euro can return to 92 rubles, Anna Bodrova from Alpari says. The target closing range for dollar and euro rates is 77.3-79.6 and 91.2-93.45 rubles respectively, Alexander Osin from Freedom Finance comments.

Freedom Finance predicts the MOEX Russia Index range of 2,655-2,785 points by the close of business on Friday.