Moscow stock exchange indexes rise as investors follow Istanbul negotiations
Moscow – Saba:
The Moscow Stock Exchange indexes rose in trading on Friday as investors followed the progress of the negotiations in Istanbul regarding Ukraine.
By 1:56 PM Moscow time, the ruble-denominated MOEX index rose 0.1 percent to 2,841.01 points, while the dollar-denominated RTS index rose 0.05 percent to 1,114.28 points.
In the currency market, the Chinese yuan traded against the Russian currency at 11.174 rubles, up 0.5 percent from the previous closing price, according to Russia Today.
The dollar traded on the Forex currency market at 80.91 rubles, and the euro at 90.352 rubles.
Expert Bogdan Zvarish believes that "investors are currently taking a wait-and-see stance until the first news emerges regarding the negotiations in Istanbul. In today's session, investors will focus primarily on geopolitical news."
He said, "The Moscow Stock Exchange index will begin to recover and attempt to reach the 2,900-point range. We expect the Russian market to trade between 2,820 and 2,920 points today."
Whatsapp Telegram Email Print
more of (Economy)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Saba Yemen
18 hours ago
- Saba Yemen
Ruble continues its rise, reaching two-year high
Moscow – Saba: The Russian ruble rose against its US counterpart in afternoon trading on Thursday, reaching its highest level in nearly two years. The dollar traded below 78 rubles, according to the Russia Today website. Whatsapp Telegram Email Print
Saba Yemen
3 days ago
- Saba Yemen
Despite trade tensions... China's industrial profits rise in April
Beijing - (Saba): Industrial profits in China rose 3% in April, reflecting the resilience of the Chinese economy despite ongoing trade tensions with the United States and domestic deflationary pressures, according to official data released Tuesday. Industrial profits from January to April grew 1.4% year-on-year, reaching 2.1 trillion yuan (about $292 billion), compared to a cumulative increase of 0.8% in the first quarter. This comes as the United States imposed comprehensive tariffs in April, exempting most countries, with China receiving tariffs of 145%, raising concerns about the impact on the export-dependent Chinese economy. Profits of private sector companies grew 4.3%, while profits of foreign companies rose 2.5%, while profits of state-owned enterprises declined 4.4%. The Chinese government continues to push forward stimulus plans, announcing in May comprehensive measures to support growth by reducing interest rates and injecting liquidity, in light of the continued contraction in factory prices for the (31) consecutive month. Whatsapp Telegram Email Print more of (International)
Saba Yemen
6 days ago
- Saba Yemen
Report: 50% US Tariff increase could cost Germany €200 Billion
Berlin – Saba: The German Economic Institute (IW) warned on Saturday that US President Donald Trump's imposition of 50% tariffs on European imports could cost the German economy €200 billion. This came after Trump announced his intention to impose these tariffs starting June 1, describing trade negotiations with the European Union as futile, according to the Russian news agency Novosti. The institute predicted that German GDP would decline by 0.1% this year, with losses likely to increase in subsequent years. The annual contraction could reach 1.1% between 2025 and 2028, and losses could increase to €250 billion if the EU imposes similar tariffs. The report indicated that the United States would also be affected by these measures due to its reliance on certain German imports, such as automated cranes, which constitute 95% of US imports in this sector. It's worth noting that Trump signed an executive order last April imposing tariffs on imports, starting at 10% and then increasing them to some countries based on trade deficits. He then announced a 90-day suspension of the tariffs after more than 75 countries requested negotiations. Whatsapp Telegram Email Print
