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The Russian market is not even helped by expensive oil!!!
Main points:
Zelensky's statements about readiness to discuss mutual reduction of strikes on energy infrastructure and his proposal for an Easter truce are keeping the market afloat.
Weak macroeconomic statistics are currently playing against the "bulls."
The American market is trying to recover after a sharp decline on Friday.
Today, March 30, the Russian stock market is slightly rebounding after a noticeable drop on Friday: as of March 27, the MOEX index decreased by 1.2% to 2789.61 points, and today, at the start of the main session, it gained about 0.3%, with the growth expanding to 0.55% by 1:00 PM Moscow time.
Support for the mood was likely provided by Vladimir Zelensky's statements about the willingness to discuss mutual reduction of strikes on energy infrastructure, provided Russia takes similar steps, as well as his Easter truce proposal. For now, the market is pricing in only cautious hope for de-escalation, so the upward movement remains moderate and largely emotional. If Russia confirms its willingness to discuss such initiatives and they develop practically, the Russian market could show another small growth impulse on expectations of reduced geopolitical tension. However, investor confidence in a resolution is already quite low, and each such statement does not significantly change the market trend.