At the end of the day, the dollar-to-ruble rate edged up by 0.06% closing at 96.09 rubles, the euro rate edged up by 0.06% to 104.15 rubles
MOSCOW, September 1. /TASS/. The Russian stock indices ended trading this week showing mixed dynamics. The MOEX index floated above 3,200 points.
As a result of the day, the MOEX index grew by 0.10% to 3,231.35 points, the dollar-denominated RTS index fell by 0.35% to 1,055.43 points.
At the end of the day, the dollar-to-ruble rate edged up by 0.06% closing at 96.09 rubles, the euro rate edged up by 0.06% to 104.15 rubles, the yuan rate moved up by 0.09% to 13.26 rubles.
“The drivers for the growth of the Russian market remained the same – the weakness of the ruble, the rise in oil prices. The Friday factor, which is relevant in the face of complex geopolitics, was holding back buyers,” said Alexander Bakhtin, an investment strategist at BCS World of Investments.
The leaders of growth on the Russian stock market were shares of Ashinsky Metallurgical Plant (+7.6%), “following the financial results for the first half of 2023 that were released the other day,” said Natalia Milchakova, a leading analyst at Freedom Finance Global.
The leaders of the decline were the shares of EMC (-2.5%) also after the publication of financial statements for the first half of 2023, the expert added.
In the near future, the MOEX Index struggle for fixing above 3,200 points may continue. If the ruble remains weak, and oil price does not roll back from the $85-90 price zone, you can see a movement to 3,250 points and above, according to BCS World of Investments. The company’s forecast for the MOEX index on September 4 is 3,125-3,250 points, for the dollar rate – 94.5-97.5 rubles.
Source: Tass
