The dollar went up by 0.52% to 91.67 rubles, while the euro rose by 0.29% to 98.9 rubles
MOSCOW, March 1. /TASS/. Russia’s stock market closed mixed on Friday as the MOEX Index added 0.3% to 3,266.66 points, while the dollar-denominated RTS Index slipped by 0.44% to 1,122.32 points. The yuan exchange rate added 0.08% to 12.66 rubles, the dollar went up by 0.52% to 91.67 rubles, while the euro rose by 0.29% to 98.9 rubles.
“The ruble’s weakness, an upsurge in oil prices and risk appetite across the market favored purchases, with the Friday factor having a containment effect. Shares of companies in the IT sector and metal firms enjoyed the highest demand,” Investment Strategist at BCS World of Investment Alexander Bakhtin said.
Global stocks were mainly in the green during the day. “In China, February business activity data (PMI) was published today, which turned out better than expected. Oil prices are balanced by competing factors and they will most probably remain at around $80 per barrel of Brent,” he added.
The upcoming week will be short on the Russian market. “A long weekend is usually a cause for more cautious trade. On the other hand, the ruble may continue losing positions, which is able to improve sentiment on shares of exporters dominant in the MOEX Index,” the expert concluded.
That said, investors have been able to offset the drawdown caused by an increase in sanctions tension, with the MOEX Index having returned above 3,250 points, which keeps chances for further movement in the direction of 3,300 points, BCS World of Investment believes. The company projects the MOEX Index at 3,175-3,275 points for March 4, while the dollar exchange rate – at 91-93 rubles.
Source: Tass
