MOEX and RTS indices mixed as trading closes on Wednesday

TASS Russian News Agency | May 11, 2022 at 7:42 PM

MOSCOW, May 11. /TASS/. The Russian stock indices showed mixed dynamics on Wednesday. By the end of trading on the Moscow Exchange, the MOEX index fell by 0.25% to 2,387.14 points, the dollar-denominated RTS index rose by 3.3% - to 1,123.93 points.

The dollar-to-ruble rate fell by 2.2% to 67.2 rubles, the euro rate decreased by 2.75% to 70.5 rubles.

"The MOEX Index made another attempt to gain a foothold above 2,400 points, but then retreated under the influence of the strengthening of the ruble and the tense geopolitical agenda. The EU has not yet reached a full consensus on the initiative to impose an embargo on Russian oil supplies, but the head of European diplomacy Josep Borrell did not rule out that the next package of sanctions could be approved on May 16 following the meeting of the Foreign Ministers of the EU countries. There is still no progress in the negotiation process to de-escalate the conflict in Ukraine," says Alexander Bakhtin, investment strategist at BCS World of Investments.

On Wednesday, the shares of the following Russian companies were leaders of growth: OGK-2 (+8.7%), PhosAgro (+6.81%), HH.ru (+6.48%), Beluga (+3.99%) and Rusagro (+3.73%).

The decline leaders were En+ Group (-3.93%), GDR X5 Retail Group (-2.96%), Sberbank (-2.52%), Polyus (-2.25%) and Norilsk Nickel (-2.1%).

According to BCS World of Investments, on Thursday, May 12, the MOEX index can be in the range of 2,300-2,450 points, the forecast range of the dollar exchange rate is 66-74 rubles.

Freedom Finance expects the MOEX index to be in the range of 2,350-2,450 points, the dollar and euro rates will be 66-70 and 70-74 rubles respectively.