Russian stock indices MOEX, RTS up 0.93-1.45% by end of trading on Wednesday

TASS Russian News Agency | Nov 18, 2020 at 6:53 PM

MOSCOW, November 18. /TASS/. The Russian stock indices continued growth on Wednesday thanks to the support of external factors.

By the end of the trading session, the MOEX index increased by 0.93% to 3,080.68 points, the RTS index climbed by 1.45% to 1,276.75 points.

As of 8:05 pm Moscow time, the dollar-to-ruble rate decreased by 0.42%, to 75.8 rubles, while the euro dropped by 0.47%, to 89.98 rubles.

The price of a futures contract for Brent crude went up by 1.5% and amounted to $44.4 per barrel.

Alongside with the growth oil prices, the dynamics of Western sites also supported the growth on the Russian stock market, chief analyst of Promsvyazbank Bogdan Zvarich says.

In Europe, by the evening, the main indices added within 0.4%, and in the US, after the first thirty minutes of trading, the Dow Jones rose by 0.3%, and the S&P500 fell by 0.1%, the expert explains.

On Wednesday, the share of Rosneft oil company gained 3.9% on the news about the company's plans to sell a stake in the Vostok Oil project. Shares of Alrosa diamond producer went up by 3.7% and shares of the Detsky Mir retailer rose by 3.15%.

Shares of the Sistema holding added 1.2%, which looked somewhat worse than the market today. "Even attraction of about $1 billion by Ozon as part of its IPO on the Nasdaq, which is in line with positive market assessments, will not lead, as it seems within a wide range of assessments, to the formation of a stable increase in the fair estimated value of Sistema's securities," says Alexander Osin, an analyst at Freedom Finance. Shares of NLMK and MMK companies lost more than 1.5% in the course of trading on Wednesday.

Forecast for Thursday

According to Vladimir Potapov, chief executive officer of VTB Capital Investments, optimism regarding progress in the development of vaccines will likely continue to support investor interest in risky assets.

As for important statistics on Thursday, investors will pay attention to information on the US labor market, in particular to the number of initial applications for unemployment benefits for the week, as well as the November Philadelphia Federal Reserve Manufacturing Index, said investment strategist BCS World of Investments Alexander Bakhtin. According to his estimates, the MOEX index will be formed tomorrow in the range of 2,990-3,090 points, the ruble-to-dollar rate - 75.8-77 rubles for the dollar.

According to Alexander Osin, the chances of a market increase prevail tomorrow.

At Freedom Finance they expect the MOEX index to be in the range of 3,050-3,115 points, the dollar and euro rates against the ruble to amount to 75.35-76.70 rubles and 89.55 - 90.80 rubles respectively.