bigdog
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Russia Stock Market Index MOEX CFD - Quote - Chart - Historical Data - News
The main stock market index in Russia (MOEX) increased 181 points or 5.84% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks this benchmark index from Russia. Russia Stock Market Index MOEX CFD - values, historical data, forecasts and news - updated...
tradingeconomics.com
The ruble-based MOEX Russia index closed 0.3% lower at 2,525 on Thursday, extending the selloff from this week as oil prices tested new lows and the Ministry of Finance released a batch of new budget data.
Oil and gas revenues for the state dropped 46% annually in April.
On top of that, the ministry downwardly revised forecasts of energy revenues for May and will sell RUB 40.4 billion of foreign exchange reserves to offset the income discrepancy expected for the period, double the amount that markets expected, and solidifying the perception that the recent dip in energy prices hurts the Federal Government’s fiscal health.
Therefore, bank shares also moved lower amid fears of extraordinary taxation.
On the other hand, gold prices tested record highs and lifted miners’ stocks.