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Russian Stocks Rebound With MOEX Up 2% on Reports of Possible Istanbul Talks

Buying followed reports of potential negotiations in Istanbul alongside a planned U.S. envoy visit to Turkey.

Overview

  • The MOEX Index rose 2.09% to 2,563.07 and the dollar-denominated RTS gained 2.18% to 996.14 at the Nov. 18 close.
  • Gains accelerated after reports suggested Russia–Ukraine delegations could resume meetings in Istanbul and that U.S. special envoy Steven Witkoff would visit Turkey.
  • Market technicians highlighted support near 2,500 points and resistance around 2,580, with short‑term trading expected in the 2,500–2,600 range.
  • Notable movers included MKB (+5.6%), Tatneft preferreds (+4.38%), SPB Exchange (+4.10%), Sovcomflot (+4.08%), Tatneft (+3.91%), Mechel (+3.78%) and Lukoil (+3.5%), while RossetiLenenergo fell 1.8%.
  • Analysts cautioned that geopolitical uncertainty, risks of secondary U.S. sanctions and questions over Lukoil’s foreign assets continue to weigh on sentiment.