The Russian stock market approached 2,500 points amid statements by negotiators in Russia, the United States and Ukraine.
At its peak, the Moscow Stock Exchange index added 2.23% compared to the close of the main session on Tuesday, to 2498.89 points.
The investors initially reacted vaguely to the results of the negotiations announced by the representatives of the parties. However, with the news that Steve Witkoff and Jared Kushner will go to Moscow on November 12 to meet with Vladimir Putin, the market began to actively grow.
The Kremlin's comments about a possible meeting between the presidents of the Russian Federation and the United States at the APEC summit and that the issue of Ukrainian settlement is on the agenda of the two leaders also added positivity, analysts at BCS World of Investments noted.
"In our opinion, the reaction to the results of the negotiations is exaggerated," says Alexey Golovinov, chief analyst for financial markets at Vector Capital Investment Company JSC. However, the expert believes that there will be no correction in the coming week, in light of Witkoff and Kushner's visit to Moscow on Thursday and the APEC summit, where the presidents of the United States, Russia and China will meet. "It is not entirely clear what needs to happen for the stock market to start falling under such conditions," Golovinov writes.
"In our opinion, by the end of this week, based on the positive news from Abu Dhabi and the future negotiations between the "darlings" of the stock market Vitkoff and Kushner with the President of Russia Vladimir Putin, the Moscow stock market index may rise to 2550-2600 points, expects Global Freedom's leading analyst, Natalia Milchakova.
By the middle to the end of next week, the market will already be pricing in the results of the APEC summit in China. Milchakova did not rule out that if there is indeed a trilateral meeting between Putin, Xi and Trump and it is not a mere protocol, it will be significantly positive for the market and we can expect the Moscow stock market index to move to the area of 2,700 points.
Data: TradingView.