16.01.2025, 10:54
The Russian stock market has risen to its highest level in six months
Source: OREANDA-NEWS
OREANDA-NEWS At the beginning of trading on Thursday, January 16, the Moscow Exchange index broke the 2,900 point mark, which happened for the first time since mid-August last year. This is evidenced by the data of the site.
At its peak, it reached 2,908.74 points, the last time the Russian stock market was higher was in July last year. It has already gained more than 20 percent since the mid-December lows.
The index's growth began after the Central Bank's decision to keep the key rate at 21 percent, which came as a surprise to analysts who had expected a significant tightening of monetary policy.
The purchase of shares is also facilitated by the expectation of Donald Trump coming to power in the United States, with whom hopes are pinned on the end of hostilities in Ukraine and the partial lifting of sanctions under the agreements.
The new surge in optimism was influenced by the inflation data for 2024, which was published by Rosstat on the eve of January 15. According to his calculations, prices increased by 9.52 percent, which is significantly lower than the latest forecasts. The main reason for this discrepancy was the multiple drop in inflation in the last week of the year.
Since the beginning of January, inflation has accelerated again, but the market took Rosstat's annual data as an argument in favor of the Central Bank's restrained decision on the key rate in mid-February. The regulator did not rule out that it could continue to raise the rate if it did not see any changes in price growth.
At its peak, it reached 2,908.74 points, the last time the Russian stock market was higher was in July last year. It has already gained more than 20 percent since the mid-December lows.
The index's growth began after the Central Bank's decision to keep the key rate at 21 percent, which came as a surprise to analysts who had expected a significant tightening of monetary policy.
The purchase of shares is also facilitated by the expectation of Donald Trump coming to power in the United States, with whom hopes are pinned on the end of hostilities in Ukraine and the partial lifting of sanctions under the agreements.
The new surge in optimism was influenced by the inflation data for 2024, which was published by Rosstat on the eve of January 15. According to his calculations, prices increased by 9.52 percent, which is significantly lower than the latest forecasts. The main reason for this discrepancy was the multiple drop in inflation in the last week of the year.
Since the beginning of January, inflation has accelerated again, but the market took Rosstat's annual data as an argument in favor of the Central Bank's restrained decision on the key rate in mid-February. The regulator did not rule out that it could continue to raise the rate if it did not see any changes in price growth.
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