Russian stocks climb as Monday market opens

The Russian stock market experienced a positive surge in the early hours of Monday, as the Moscow Exchange saw the MOEX Index climbing by 0.27 per cent, reaching 3,459.05 points by 10:00am Moscow time (07:00am GMT), TASS reported.

Concurrently, the dollar-denominated RTS Index also rose, marking a 0.47 per cent increase to 1,183.54 points.

The upward trend continued as, by 10:15am (07:15am GMT), the MOEX Index further increased by 0.35 per cent to 3,461.8 points, while the RTS Index rose by 0.77 per cent to 1,187.06 points.

On the currency front, the dollar exchange rate dipped by 0.86 per cent to 91.86 rubles on the Moscow Exchange. The euro followed suit, dropping by half a percent to 99 rubles. The yuan also saw a decrease, falling by 0.36 per cent to 12.646 rubles. This early morning trading activity indicates a dynamic start to the week in the Russian financial market.