Business · Markets · 9 hrs ago

Russian stocks close lower as MOEX falls 0.56%

Russian stocks close lower as MOEX falls 0.56%

Russia’s MOEX Index fell 0.56% to 2,441.99 points at Tuesday’s close, while the dollar-denominated RTS Index dropped 1.4% to 941.94.

The trading took place on the Moscow stock market, where some major shares rose even as the main indexes declined.

LSR shares gained 16.89%, the biggest rise listed, while VK shares fell 6.29%, the steepest drop.

An analyst said VK’s fall may reflect investors taking profits after the shares rose more than 50% over the previous two sessions.

Another analyst linked RusHydro’s 7.6% gain to government plans to attract investment in power plants.

The next-session outlook puts MOEX between 2,400 and 2,500 points, with one firm saying it could resume rising toward 2,500 if November 4 passes without major disruptions.

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Andrey SmirnovStock market expert at BCS World of Investments
The MOEX Index attempted to return to the 2,500-point mark today, but sellers took the initiative during the session
via TASS