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Russian stocks hit highest in over two years
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MOSCOW (Reuters) – Russia’s benchmark stock index strengthened to its highest point since the day Russia sent its troops into Ukraine in February 2022 on Monday, while the rouble firmed slightly against the U.S. dollar.
MOSCOW (Reuters) – Russia’s benchmark stock index strengthened to its highest point since the day Russia sent its troops into Ukraine in February 2022 on Monday, while the rouble firmed slightly against the U.S. dollar.
By 1025 GMT, the rouble-based MOEX Russian index gained 0.9% to 3,361.5 points, its strongest since Feb. 24, 2022. The dollar-denominated RTS index rose 0.9% to 1,147.5 points.
The rouble was 0.2% higher at 92.29 to the dollar.
The rouble could face weakening risks in the coming days, said Yevgeny Loktyukhov of Promsvyazbank, as a favourable month-end tax period has ended and there could be pent-up demand for dollars and euros in the United States and Europe after the Easter break.
Against the euro, the rouble rose 0.1% to 99.53 and dropped 0.1% to 12.69 against the yuan.
Brent crude oil, a global benchmark for Russia’s main export, fell 0.3% to $86.71 a barrel.
($1 = 92.2500 roubles)
(Reporting by Alexander Marrow; Editing by Alison Williams and Barbara Lewis)
The MOEX Russian index is a stock market index that tracks the performance of the largest and most liquid stocks listed on the Moscow Exchange.
Brent crude oil prices are a major benchmark for global oil prices, influencing the economies of oil-exporting countries like Russia.
The RTS index is a capitalization-weighted index of the 50 largest Russian stocks traded on the Moscow Exchange, denominated in US dollars.
Foreign currency risks refer to the potential for financial loss due to fluctuations in exchange rates affecting international transactions.
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