MOSCOW, October 23. The stock indices of the Russian Federation have finished day growth. So, the MICEX index (MICEX) by the end of trading on the Moscow stock exchange rose by 0.78% to 1725,45 points, and RTS – on 1,41% to 872,86 item.
“When you consider that in the range 1800-1830 points on the MICEX index this year were the largest and the strongest sales over the last 5 years, it is unlikely that this year the Russian index will close above. In this regard, the maximum potential growth for the Russian stock market from current levels is seen now not more than 5%,” – said the expert IK “ITinvest” Vasily Oleynik.
The dollar fell below $ 62 of the ruble, and the Euro dropped below 68.5 per ruble for the first time since the end of August. The strengthening of the ruble and the growth of Russian shares has occurred despite falling oil prices. The price of a futures contract with delivery in December for oil grade Brent on London exchange ICE fell by 0.6% to $47.79 per barrel.
“When the ruble is excessively strengthened, the exporters receive less profit. This creates the risk that the Russian stock market again will fall on the MICEX index, and will depreciate the accumulation of a number of participants in the economic process. In addition, the excessive strengthening of the ruble creates the illusion that the economy is not just stabilizing, and almost speculative growth”, – the Director of analytical Department of the IR “Golden Hills – Kapital AM” Mikhail Krylov. According to experts, on Monday, you can expect an increase of MICEX index in the direction of 1739 points, and reduce the RTS index to 868 points.