NEWS: Russian stocks hit record highs later this year

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Reuters survey showed that the Russian stock market may hit a record high later this year, returning to the level before the latest US sanctions.

According to the comprehensive forecast of six market analysts, the MOEX stock price indexed by the ruble will rise to a record high of 2,445 points before the end of the year, which is 6.4% higher than the closing price on Tuesday.

According to the median estimate of 10 analysts, the dollar-denominated RTS index rose to 1,299 points by the end of the year, 12.5% higher than Tuesday's close.

However, the stalemate between Russia and the West kept the Russian market from rising. After the United States imposed new sanctions against Russia to punish its "malicious activities" conducted globally, this kind of confrontation increased.

"Geopolitical risk is still the most serious risk," said Vladimir Miklashevsky, an analyst at Dansk Bank in Helsinki.

While the outside world expects that Saudi Arabia and Russia will increase oil production to ease the possible supply shortage, the prospect of lower oil prices may also suppress the Russian stock market.

"The stock market may fall in the second half of the year and the pressure will come from falling oil prices and increasing economic sanctions concerns." Analysts at Alfa Bank said that the forecast given by analysts at the bank was the most pessimistic in this Reuters survey.


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