- As Alexander Bakhtin said, the general background was moderately positive
According to TASS, Russia's state-owned news agency article published on October 25, 2022, the Russian stock indices traded in positive territory on Monday.
By the end of trading session, the MOEX index rose by 0.99% to 2,063.95 points, the RTS index went up by 1.15% 1,062.66 points.
The dollar-to-ruble rate fell by 0.10% to 61.18 rubles, the euro rate rose by 0.4%, to 60.6 rubles.
The general background was moderately positive, said Alexander Bakhtin, an investment strategist at BCS World of Investments.
"Oil prices remain at the levels above $ 90 per barrel of Brent, the ruble reduces its tendency to strengthen, there was no increase in tension in geopolitics over the past weekend," the expert said.
Preliminary indexes of PMI business activity in the sector of services and manufacturing of the Eurozone and the USA for October came out worse than forecast estimates. Today, data came out that the Chinese economy grew by 3.9% in 3Q22, which exceeded the expected 3.4%. Positive general sentiments are also fueled by quarterly financial results as part of the US corporate reporting season. A fifth of the companies from the S&P 500 index has already reported, in 72% of cases, net profit was higher than analysts' preliminary expectations, Bakhtin said.
On Monday, the leaders of growth were the shares of Sovcomflot (+6.7%), Rusal (+5.3%), TGK-1 (+3.3%).
Among the leaders of the decline were securities of the metallurgical and mining sector: ordinary shares of Mechel (-1.62%), shares of the Polymetal group (-1.5%) and the gold miner Polyus (-1.3%).
According to BCS World of Investments, on October 25, the MOEX index will be in the range of 1,950 - 2,085 points, the forecast range for the dollar-ruble pair is 60-63 rubles.
According to Freedom Finance Global forecasts, on Tuesday, the MOEX index will remain in the range of 2,000-2,100 points. Pairs of the dollar and the euro against the ruble may remain in the range of 60-63 rubles.
