MosBirch index jumped amid talks between Russian and US delegations

On Tuesday, February 18, the Moscow Exchange index rose above 3,300 points for the first time since May of the previous year. Freedom Finance Global analyst Vladimir Chernov told Izvestia that the growth was linked to the background of expectations of negotiations between Russian and US delegations in Saudi Arabia.

"Rumors have emerged about preparations to lift restrictions on the use of the SWIFT cross-border transfer system among major Russian banks, which will significantly simplify the conduct of Russia's foreign trade relations, which is why securities of exporting and importing companies have recently been the leaders of growth on the Moscow Exchange," he explained.

According to him, the index has reached a powerful level of resistance, but without a new news reason further growth is not expected, so we can not exclude a corrective decline in quotations against the background of fixation of profits by participants of trades.

In addition, the Mosbirji index may continue its growth on the background of favorable results of negotiations between the delegations of Russia and the USA. In this case, the next target for the growth of the Moscow Exchange index will be the mark of 3500 points.

"In general, the Russian stock market already looks quite overheated and logically we can expect some more significant correction. There is periodic euphoria on stock markets - when prices rise higher and higher despite the exhortations of skeptics," summed up the stock market expert of "BKS World of Investments" Lyudmila Rokotianskaya.

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Negotiations between the delegations of Russia and the United States began in one of the palaces of the royal family in Riyadh this day. Moscow was represented by Foreign Minister Sergei Lavrov, Presidential Aide Yuri Ushakov and CEO of the Russian Direct Investment Fund (RDIF) Kirill Dmitriev. In turn, the U.S. side was represented by Secretary of State Marco Rubio, U.S. National Security Advisor Mike Waltz and Special Envoy to the Middle East Steven Whitkoff.