Moscow stock market jumps

RUSSIA / FSU POLITICS - In Brief 10 Nov 2020 by Alex Teddy
On November 9 shares on the Russian Bourse jumped as did the RUB. That is due to good news about a coroanvirus vaccine. Pfizer and BioNTech said their vaccine is in Phase 3 trials and it is 90% effective. A heartening report was published. The RUB leapt 2% against the USD and reached 76. That is the best performance in 6 weeks. The RUB is 5% higher than it was on November 2 2020.The RTS Index (USD denominated) went up 4.3% on the afternoon of November 9. The MOEX went up 2.3%. Stock suffered severely in 2020. Airlines and oil companies were the worst hit. But they jumped on November 9. Aeroflot went up 8%. Lukoil, Tatneft and Novatek all rose abruptly. Stocks unaffected by coronavirus are not rising much. The Russian stock market did not rise as much as London or Frankfurt.Biden's victory has not had much of a negative affect on Russian shares. The Democrats will probably not win the Senate. Biden's ability to sanction Russia will therefore be limited.

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