Russia’s MICEX hits new all time high, RTS over 1000 first time in two years

Russia’s MICEX hits new all time high, RTS over 1000 first time in two years

MICEX sets all time high, RTS over 1000 for first time in two years / bne IntelliNews

By bne IntelliNews November 11, 2016

Russia’s ruble denominated Moscow Interbank Currency Exchange (MICEX) index set a new all time high of 2061.68 on November 10 on the bounce back that followed the election of Donald Trump as US president.

Trump is seen as good news for Russia that is fuelling hopes of a de-escalation in tensions between the countries. The previous MICEX high was set on September 8 this year at 2063.13 points.

At the same time, the dollar-denominated Russia Trading System (RTS) crossed the psychologically important 1,000 mark for the first time in two years and rose to an intraday high of 1021.97 points (+ 2.6%). Blue chips listed on the RTS did even better, up by 5%, Vedomosti daily reports.

The strongest growth was amongst shares of diamond producer Alrosa (3.3%), steel maker Mechel (13.5% ordinaries, 10.2% prefs), nickel powerhouse Norilsk Nickel (4.9%), aluminium maker RusAl (8.7%), and steel mill Severstal (2.2%).

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