Russian Markets Avoid Trump Slump On Sanctions Easing Hope
Mohammad Ali (@ChaudhryMAli88) Published November 09, 2016 | 01:55 PM
MOSCOW, Nov 9, (APP - UrduPoint / Pakistan Point News - 09th Nov, 2016 ) - Russian markets largely resisted a global tumble Wednesday as Donald Trump emerged as the surprise winner in the US presidential election, bolstered by hopes he may ease biting Western sanctions against Moscow.
The dollar-denominated RTS index was down 0.6 percent at 0800 GMT, while ruble-denominated Micex dipped by 0.4 percent.
The exchange's website was working intermittently. The Russian ruble was trading flat at 63.91 against the US Dollar and slightly down at 71.55 against the euro.
"Russia is perhaps the most obvious perceived (emerging market) beneficiary of President Trump -- with the hope that he might ease sanctions on Russia in 2017," said analyst with RenCap's global chief economist Charles Robertson, who titled his morning comment "President Trump --making Russia great again."
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