The Russian rouble rose on
Tuesday, supported by a rally in crude prices and political
efforts to make a ceasefire hold in eastern Ukraine, but gains
were capped by uncertainty about the ceasefire's fate.
At 0800 GMT, the rouble was up 0.4 percent against the dollar to 62.92 and 0.5 percent to 71.45 versus the euro.
Prices for oil, Russia's chief export, extended their rally, with Brent crude climbing beyond $62 a barrel before falling back, still up 0.3 percent on the day to $61.6.
Some investors were also encouraged by more talks between the leaders of Russia, Ukraine, Germany and France to ensure the ceasefire deal agreed last week holds.
"The rise in the oil price and negotiations about the ceasefire are negating the 'Greek factor'," BCS analyst Mark Bradford said in a morning note, referring to the lack of agreement on Greece's debts on Monday, which is weighing on global markets.
Russian stock indexes were mixed on Tuesday, however, and little changed overall. The dollar-based RTS index was up 0.4 percent to 901 while the rouble-based MICEX was down 0.2 percent to 1,796.
Veles Capital analyst Alexander Kostyukov said in a note that "the geopolitical factor remains the most significant indicator for the Russian stock market on Tuesday".
Despite the continuation of high-level peace talks, the fate of the latest ceasefire in Ukraine is uncertain, with pro-Russian rebels publicly disavowing it around the town of Debaltseve, the focus of recent fighting.
Read more at Click here / www.trade4x.net
At 0800 GMT, the rouble was up 0.4 percent against the dollar to 62.92 and 0.5 percent to 71.45 versus the euro.
Prices for oil, Russia's chief export, extended their rally, with Brent crude climbing beyond $62 a barrel before falling back, still up 0.3 percent on the day to $61.6.
Some investors were also encouraged by more talks between the leaders of Russia, Ukraine, Germany and France to ensure the ceasefire deal agreed last week holds.
"The rise in the oil price and negotiations about the ceasefire are negating the 'Greek factor'," BCS analyst Mark Bradford said in a morning note, referring to the lack of agreement on Greece's debts on Monday, which is weighing on global markets.
Russian stock indexes were mixed on Tuesday, however, and little changed overall. The dollar-based RTS index was up 0.4 percent to 901 while the rouble-based MICEX was down 0.2 percent to 1,796.
Veles Capital analyst Alexander Kostyukov said in a note that "the geopolitical factor remains the most significant indicator for the Russian stock market on Tuesday".
Despite the continuation of high-level peace talks, the fate of the latest ceasefire in Ukraine is uncertain, with pro-Russian rebels publicly disavowing it around the town of Debaltseve, the focus of recent fighting.
Read more at Click here / www.trade4x.net
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