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Markets

Russian rouble edges higher, Rosneft shares slip on Q2 results

  • The rouble was 0.2% stronger against the dollar at 73.44 and had gained 0.2% to trade at 86.20 versus the euro
Published August 13, 2021
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MOSCOW: The Russian rouble inched higher on Friday, moving little in a quiet foreign exchange market and looking for momentum to take it one way or the other, while shares in oil major Rosneft slipped after it reported second-quarter results.

At 0752 GMT, the rouble was 0.2% stronger against the dollar at 73.44 and had gained 0.2% to trade at 86.20 versus the euro.

There is no reason for the rouble to fall sharply today, said Alor Broker analysts in a note.

Russian rouble eases after overnight jump, stocks inch higher

"In the worst case scenario, the rouble will end the week near the 74 mark," they said.

Brent crude oil, a global benchmark for Russia's main export, was down 0.5% at $70.96 a barrel. The International Energy Agency on Thursday trimmed its outlook for the remainder of the year. Russian stock indexes were stable.

The dollar-denominated RTS index was flat at 1,666.1 points. The rouble-based MOEX Russian index was 0.1% lower at 3,884.0 points.

Shares in Rosneft fell 1%, underperforming the wider market, after the company reported a fivefold year-on-year increase in net profit off the back of higher oil prices.

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