The MOEX Russia Index rebounded on Wednesday after a 1.8% drop the previous day. Investors closely watch President Putin and top officials at a Moscow investment forum for policy direction.
- Index recovers after an earlier decline.
- Investors seek guidance from the Moscow forum
- President Putin’s policies in focus
Banking CEO Criticizes High Interest Rates
Before the forum, the CEO of VTB criticized the central bank’s high interest rates. He argues that the rates are unnecessarily high given the current inflation levels.
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Markets also await the Finance Ministry’s upcoming announcement in December. Stocks like Mechel gained nearly 3%, while Federal Grid and KubanEnergo added over 1%. Conversely, Norilsk Nickel, Tattelekom, and Moskovskaya Gorodskaya Telefonnaya experienced up to 1.3% declines.
