Russian stock market rises sharply after announcement of Putin-Trump meeting
7 August 15:13
Russian stocks have shown rapid growth after the official confirmation of the planned meeting between Russian President Vladimir Putin and US President Donald Trump.
This was reported byThe Moscow Times, "Komersant Ukrainian" reports.
The Moscow Stock Exchange index jumped by 4.6% to 2894.36 points, the highest level in two months. The last time such growth was observed was on February 13 after a telephone conversation between Putin and Trump.
The largest growth was shown by shares of large companies:
- “Novatek – 5.3%
- “Gazprom – 3.5%
- “Sovcomflot – 2.7%
- “Rosneft – 1.2%
Banking stocks grew more slowly due to fears of rising bad debts:
- Sberbank added 1%,
- VTB – 0.9%.
The ruble also strengthened on the foreign exchange market:
- the yuan fell by 0.7% (to RUB 11.02),
- the dollar – by 0.8% (to 79.33 rubles),
- the euro – by 0.7% (to 92.81 rubles).
As areminder, the Kremlin has officially confirmed that a meeting between Putin and Trump is being prepared in the coming days. According to Russian presidential aide Yuri Ushakov, the parties have already agreed on a venue for the talks.
