The MOEX Index surpassed 2,200 points for the first time in two…
The MOEX Index surpassed 2,200 points for the first time in two weeks on July 27, driven by a market correction following the Central Bank of Russia's reduction of its key interest rate. The index rose 1.66% to 2,201.56 points, with strong gains in stocks like Ozon, MMK, and Polus.
Consensus
- The MOEX Index exceeded 2,200 points for the first since July 13.
- The increase occurred on July 27 at 13:15 MSK.
- The MOEX Index rose by 1.66% to reach 2,201.56 puntos.
- The RTS Index also increased by 1.66%, reaching 888.77 points.
- Ozon shares rose the most among index stocks, gaining 9.3%.
- MMK and NLMK shares gained 7.8% and 6.4%, respectively.
- Polus, Sovcombank, Bank of St. Petersburg, En+ Group, and MTS also showed significant gains.
- The Central Bank of Russia reduced its key interest rate by 25 basis points to 14.00% in the previous week.
Points of divergence
- Experts attribute the market rise primarily to a corrective rebound following the Central Bank's decision on key interest rate, and warn that this rally may be short-term. — kommersant
Coverage (2 sources)
- Moscow Exchange Index first in two weeks to hold above 2,200 points — Коммерсантъ
- Moscow Exchange Index Surpassed 2,200 Points for the First Time in Two Weeks — Интерфакс