Russian stock market falls at start of trading session

Lead

Russian stock market indices declined at the start of the main trading session on multiple days in June, according to Moscow Exchange data reported by TASS. The MOEX and RTS indices both fell by around 0.8% in morning trading, while the yuan exchange rate rose against the ruble. A separate report detailed how the Bank of Russia's key rate decision led to a sharp market reversal.

Coverage Comparison

TASS provided multiple reports on the Russian stock market's performance at the start of trading sessions throughout June and early July. The reports consistently noted simultaneous declines in the MOEX and RTS indices at the opening of the main trading session, accompanied by a rising yuan exchange rate. The magnitude of the declines varied by date, with one session showing a 1.54% drop and others around 0.76–0.8%. A separate TASS report covered the market's reaction to the Bank of Russia's key rate cut on June 19, documenting a swing from gains to losses.

Key Claims

• The Russian stock market declined at the start of the main trading session on June 24, with the MOEX index falling 0.78% to 2,317.63 points and the RTS index down 0.78% to 978.43 points as of 10:00 Moscow time, according to TASS. The yuan rose by 3.25 kopecks to 10.973 rubles.
• On June 18, the MOEX and RTS indices fell by 0.8% to 2,465.11 and 1,067.47 points, respectively, at 10:00 Moscow time. The yuan rose by 4.6 kopecks to 10.826 rubles, according to TASS.
• On July 7, the MOEX and RTS indices fell by 1.54% at the opening of the main trading session to 2,160.32 and 872.84 points, respectively. The yuan initially declined but later turned to growth, rising by 2.2 kopecks to 11.204 rubles by 10:15 Moscow time.
• On June 29, the MOEX and RTS indices were down 0.76% to 2,268.34 and 927.29 points, respectively, at 10:00 Moscow time. The yuan rose by 7.85 kopecks to 11.5675 rubles.
• On July 3, the MOEX and RTS indices initially rose 0.25% at the opening, but reversed course to decline by 10:15 Moscow time, with the MOEX down 0.15% to 2,252.6 points. The yuan fell 6.2 kopecks from the previous close at the start, according to TASS.
• On June 19, following the Bank of Russia's decision to cut its key rate to 14.25% per annum, the MOEX index turned negative, falling 1.3% to 2,409.53 points by 1:30 p.m. Moscow time, its lowest level since December 18, 2024. The RTS index also fell 1.3% to 1,034.7 points. The yuan moved into negative territory, trading at 10.786 rubles (−0.35 kopecks). By 1:46 p.m., both indices were down 1.2%. The US dollar gained 17.03 kopecks to 73.49 rubles, while the euro fell 16.5 kopecks to 83.84 rubles.
• On June 5, the MOEX Russia Index dropped 0.73% to 2,561.04 points by the close of business, while the RTS Index gained 0.39% to 1,098.13 points, with the yuan rising 4.65 kopecks to 10.87 rubles, as reported by TASS.
• On June 1, the Russian stock market ended the trading session with mixed indicators: the MOEX Russia Index gained 0.17% to 2,570.04 points, the RTS Index dropped 0.57% to 1,131.49 points, and the yuan gained fifteen kopecks to 10.64 rubles.

Bank of Russia Decision

On June 19, the Bank of Russia cut its key rate by 25 basis points to 14.25% per annum. According to the regulator, it would assess the need for further cuts at upcoming meetings depending on the sustainability of the inflation slowdown, inflation expectations dynamics, and its assessment of risks from domestic and external conditions.