Russian stock indices MOEX, RTS up 0.22-0.43% on Friday

TASS Russian News Agency | Jun 25, 2021 at 6:49 PM

MOSCOW, June 25. /TASS/. The Russian stock market slightly grew by the end of the trading session on Friday, recovering its morning losses.

The MOEX index rose by 0.22%, to 3832.19 points, the dollar-denominated RTS index went up by 0.43%, to 1,672 points, according to trading data.

The dollar-to-ruble decreased by 0.15%, to 72.19 rubles, the euro-to-ruble rate dropped by 0.14%, to 86.19 rubles.

Investment strategist at BCS World of Investments Alexander Bakhtin notes that at the end of the week the Russian stock market showed restrained mixed dynamics.

"The ruble continued to look strong, which provided more positive dynamics for the RTS index. Oil prices and reserved optimism in global markets, combined with a relative calm geopolitical situation, are helping the Russian market. At the same time, the seasonal decline in trade activity, as well as the impact of new duties on the export of metals were limiting factors are," the expert notes.

Forecast for Monday

According to Bakhtin, the cautious upward movement of the markets may continue, since the release of important macroeconomic statistic data on this day is not expected.

"Commodity prices, geopolitics and news related to the pandemic remain other key factors influencing sentiments on the market. According to our estimates, the MOEX index on Monday will be within the range of 3,785-3,885 points, the ruble-to-dollar rate will be in the range of 71.8-72.5," Bakhtin says.

In turn, Alexander Osin, an analyst of the department of trading operations on the Russian stock market at Freedom Finance, expects the MOEX index to be in the range of 3,790-3,845 points at the close of trading on Monday.

"Target ranges for the euro-to-ruble and dollar-to-ruble rates are 71.80-72.85 rubles and 85.60-86.85 rubles, respectively," he said.