Russian shares rise as oil prices and peace-talk optimism lift markets

Russia’s MOEX Index rose 0.83% to 2,513.04 points at Friday’s close, while the RTS Index gained 0.98%.

The market’s rise came as oil prices moved higher and peace talks in Abu Dhabi came into focus.

The MOEX Index gained more than 10% in October and was seeking to hold above 2,500 points.

VK shares led gains after the company released nine-month results, while VTB shares fell despite higher quarterly profit, as investors reacted to plans for a smaller share of profits to go to dividends than they had expected.

Analysts said the MOEX could reach 2,550 to 2,560 points if oil stays high and geopolitical optimism continues.

For the next session, one analyst forecast a range of 2,490 to 2,560 points, while currency rates could move toward 80 to 82 rubles per dollar and 12 to 12.25 rubles per yuan.