RTS Index up 0.28%, MOEX Index up 1.5% by end of trading on Moscow Exchange on Monday

TASS Russian News Agency | Aug 22, 2022 at 7:01 PM

MOSCOW, August 22. /TASS/. The MOEX index grew by 1.5% up to 2,228.11 points, the dollar-denominated RTS index went up by 0.28%, up to 1,173.79 points by the end of trading on the Moscow Exchange on Monday.

Growth was observed despite the deteriorating external background.

"Oil prices once again retreated after an unsuccessful attempt to gain a foothold above $95, world stock indices plunged into the red. The Fed's signals were negative, indicating that the US regulator will continue to actively raise interest rates to combat high inflation. At the same time, we note monetary easing by the People's Bank of China, which today lowered the base lending rate by 5 basis points to 3.65% per annum," said Alexander Bakhtin, investment strategist at BCS World of Investments.

The dollar-to-ruble rate at the end of the day rose by 0.77% to 59.87 rubles, the euro fell by 0.15%, to 59.45 rubles.

On Monday, the growth leaders of the Russian stock market were the shares of the Renaissance insurance group (+6.8%), shares of the En + holding (+6.1%), Novatek's shares (+4.7%).

The decline leaders were the shares of the gold miner Seligdar (-4.3%), depositary receipts of the EMC holding (-2.5%) and shares of the Polymetal group (- 2.11%).

According to BCS World of Investments, on August 23, the MOEX index will be in the range of 2,140-2,240 points, the forecast range of the dollar-to-ruble rate is 58-61 rubles.

Freedom Finance Global predicts the dynamics of the MOEX Exchange index in the range of 2,150-2,250 points. The dollar and euro pairs against the ruble are expected to be in the range of 59-62 rubles, since the dollar and the euro have again reached parity.