Russian stock market closes with major indices up

MOSCOW, May 12. /TASS/. The MOEX Index rose 1.24% to 2,689.96 points at the close of main trading on Tuesday, while the dollar-denominated RTS Index climbed 1.94% to 1,148.42 points. The yuan edged up by 2 kopecks to 10.84 rubles. "The Russian stock market is seeing a brisk rally this week. The MOEX Index approached 2,700 points today. The holiday weekend passed without incident, there were signals regarding a possible continuation of the negotiation process to settle the Ukrainian conflict, and talks emerged in Europe about the need for dialogue with Russia," said Andrey Smirnov, stock market expert at BCS World of Investments. The most significant gains were posted by SPB Exchange shares (+6.2%). According to Natalia Milchakova, lead analyst at Freedom Finance Global, this was likely a reaction to Russian President Vladimir Putin's positive statements that, in his view, the Ukrainian conflict is "nearing its end." Bank Saint Petersburg was the top loser (-7.3%) due to today’s record date for the 2025 dividend payout. BCS World of Investments expects the MOEX Index to trade in the 2,620-2,720 range on Wednesday, with the dollar at 73-75 rubles and the yuan at 10.6-11.1 rubles. Freedom Finance Global’s forecast for the MOEX Index is 2,650-2,750 points, with the dollar, euro, and yuan projected at 73-75 rubles, 86-88 rubles, and 10.7-11.2 rubles, respectively.