Russian stock indices mixed by end of trading on Friday

TASS Russian News Agency | Sep 10, 2021 at 7:55 PM

MOSCOW, September 10. /TASS/. The Russian stock indices showed mixed dynamics by the end of the trading day on the Moscow Exchange on Friday.

The MOEX index rose by 0.23%, to 4,002.66 points, the dollar-denominated RTS index decreased by 0.06%, to 1,725.25 points.

As of 7:19 pm Moscow time, the dollar-to-ruble rate increased by 0.09% to 73.07 rubles, the euro rate rose by 0.06%, to 86.36 rubles.

The price of a futures contract for Brent crude rose 2.31% to $72.84 per barrel.

"Friday trading went quite calmly on the Russian stock market. The MOEX index was close to the current levels. In general, by the end of the trading week, the external background remains neutrally positive," said Alexander Bakhtin, investment strategist at BCS World of Investments.

According to the company, at the beginning of next week the MOEX index may go above 4,100 points.

The meeting of the Bank of Russia's Board of Directors was an important event on Friday. The regulator raised its key rate by 0.25%, which was below the expected 0.5%.

"At the moment, this caused a weakening of the domestic currency, but the subsequent rhetoric of the Bank of Russia about a possible further tightening of monetary policy by raising the rate, supported the ruble," Bakhtin said.

The positive dynamics of oil prices, caused by expectations of an increase in demand and the negative impact of the consequences of the hurricane on production in the Gulf of Mexico, also played in favor of the Russian currency. By the end of the week, the ruble consolidated at 73 rubles per US dollar, and next week may go into the range of 72.5-73 rubles per US dollar, according to the BCS World of Investments.