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Russian stocks hit highest in over two years

2024 04 01T104050Z 1 LYNXNPEK300J1 RTROPTP 4 RUSSIA MARKETS 1 scaled - Global Banking | Finance

Russian stocks hit highest in over two years

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)

 

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