After posting solid gains in the first seven months of 2019, Russian stock indexes slipped in August and are likely to finish this year near current levels, before rising again by the end of 2020, a consensus forecast of around 12 analysts showed. The rouble-based MOEX index is forecast to decline more than 2% by the end of this year from 2659.35 on August 27. Forecasts in the poll ranged from 2,400 to 2,900.
"The probability of a significant correction in equity markets this year looks low," said Konstantin Bushuev, head of research at Otkritie Brokerage. The MOEX is seen staying around the year-end level in mid-2020 and then rising to 2,800 by the end of next year, according to the poll, which was conducted in the second half of August.
"Monetary easing is the main supportive factor for equities at the moment besides fiscal stimulus," said Iskander Lutsko, chief investment strategist at ITI Capital.