Russian Stocks Surge Amid Ceasefire Hope Ahead of Crucial Trump-Putin Meeting
Russian stocks reached three-month highs as investors grew optimistic about a potential ceasefire from the upcoming meeting between U.S. President Trump and Russian President Putin. The MOEX index rose by 1.9% while the rouble appreciated against the dollar and yuan. Market volatility remains high.
Russian stocks surged to their highest levels in over three months on Monday, fueled by optimism that an imminent meeting between U.S. President Donald Trump and Russian President Vladimir Putin may edge Moscow and Kyiv closer to a ceasefire.
The MOEX stock market index rose by 1.9% by 0825 GMT, hitting its strongest mark since April 29. The meeting, scheduled for August 15 in Alaska, comes against the backdrop of heightened market anxiety.
Since Trump imposed an August 8 deadline for a peace agreement in Ukraine, Russian markets have been on edge. Investors remain hopeful for a diplomatic breakthrough, although the potential for profit-taking looms large and volatility is expected to remain high this week.
(With inputs from agencies.)
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