Sanctions relief hope lifts stocks in Russia
The biggest beneficiaries of Donald Trump’s victory will be the largest Russian companies with ties to the Kremlin, such as Sberbank and Gazprom, says analyst
Moscow/London — Russian assets escaped the worst of the turmoil in global markets, with stocks rallying the most among emerging peers, on speculation US president-elect Donald Trump will mend ties with Moscow. The Micex index advanced 1.9% to 2,004 by 5.23pm in Moscow, the biggest gain in the developing world, as most equity gauges suffered losses. The rouble was little changed at 63.3925/$, paring earlier gains of as much as 1.4%, as Trump pulled off an electoral upset by beating Democrat Hillary Clinton to the White House. Trump has signalled a readiness to improve bilateral relations with President Vladimir Putin that have been strained since the annexation of Crimea in 2014 sparked the worst bilateral standoff since the Cold War. Any loosening or lifting of sanctions would provide a boost to the Russian economy just as it emerges from its longest recession in two decades. There is a possibility of a "reduction in sanctions in the coming months, allowing Russian businesses to mor...
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