Russian Stock Market Suffers amid Negative Environment

After oil futures and global stock markets, Russian stocks finished the trading week in the negative on Friday, TASS reports. The MOEX Russia Index down 0.42 percent to 3,802.95 points, while the RTS index, which is based in dollars, fell $1.06 percent to 1,646.72 points.

The dollar gained 0.57 percent versus the ruble, reaching 72.7345 rubles, while the euro gained 0.29 percent, reaching 86.3966 rubles.

Meanwhile, the Bank of Japan’s decision to prolong its program of supporting business during the epidemic until the end of March 2022 boosted the global market on Friday.

Brent crude oil is now trading at less than $74 a barrel. According to Alexander Bakhtin, an investment strategist at BCS, oil futures were under pressure due to a local strengthening of the dollar, as well as a new wave of virus-related concerns.

TCS shares led the way in terms of growth (+5.58%) as they hit the maximum level of 5,846 rubles, while Rusal (-2.21%), Alrosa (-3.1%), and Sistema (-2.5%) headed the list of outsiders, as did VTB (-2.29 percent ).