Dec 9 (Reuters) – Moscow stock indexes rose on Monday after recent losses, while the rouble fell as investors took profits.
At 1322 GMT the rouble-denominated MICEX index was up 0.7 percent at 1,458 points while the dollar-denominated RTS index was up 0.9 percent at 1,403.
Strong U.S. jobs data on Friday boosted global risk appetite, sending a strong signal on the health of the world’s largest economy that in some areas outweighed expectations of a winding down of U.S. monetary stimulus.
Russian assets were bruised earlier last week by another downgrade of the official economic growth forecasts with the stocks hitting three-month lows. But a pickup in global risk appetite on Friday helped trim some of the losses.
“We were oversold last week and now trying to get back to some levels, maybe we could see 1,470-1,480 points,” said Artyom Argetkin, equity sales head at BCS.
Stocks in Russia’s biggest food retailer Magnit outperformed, rising 2.7 percent, recovering after a 5 percent dip over the previous week.
Shares in Russian consumer credit firm TCS rose 1.7 percent in London after it reported a 22 percent increase in third-quarter net profit, year-on-year.
The rouble dipped after rebounding at the end of last week. It fell 0.1 percent against the dollar to 32.74, and 0.2 percent to 44.92 against the euro, leaving it 0.2 percent weaker at 38.22 against the dollar-euro basket.
“I think (the basket) will go lower, in the direction of 38.00, on a wave of ‘risk-on’ (trading),” said a dealer at a large Russian bank.
Following a jump in inflation above target last month, Russia’s central bank is now not expected to cut interest rates when it meets on Friday.
“The market’s hopes for a cut in interest rates at the next meeting have turned to nothing,” BCS analyst Mark Bradford said in a note.
The yield on Russia’s 10-year treasury benchmark paper fell 7 basis points to 7.71 percent, its lowest in two weeks.