FX.co ★ Russian Stocks Rebound from April Lows

In April, the MOEX Russia Index rose above the 2,900 mark after experiencing a dip to a near four-month low of 2,650 on April 9th. This movement contrasted significantly with the performance of US and Asian equity markets, given that a series of Western sanctions has isolated Russia's financial sector from global trends. As a result, capital outflows from Russia have been relatively modest compared to those from Asian economies, due to Russia's markets being less affected by the trade tensions between the United States and its major trading partners. Nonetheless, the index received some indirect support from a temporary rise in energy prices when US President Trump postponed the implementation of the latest set of reciprocal tariffs. This postponement offered a boost to major fuel energy producers. Companies such as Rosneft and Lukoil saw a significant recovery from their recent declines, while Sberbank and Yandex have extended their gains since the year's beginning.