Russian equity markets posted their most significant three-day rally of the year, fueled by a sharp recovery in the shares of major oil and gas producers.
The energy sector's heavyweights, which carry substantial weight in the Moscow Exchange Index, led the broader market higher as investor sentiment improved across the board.
43 points on Monday, while the dollar-denominated RTS Index gained 1.
The MOEX Index climbed 2.84% to close at 2,350.43 points on Monday, while the dollar-denominated RTS Index gained 1.92% to finish at 952.28. The upward momentum continued into the following session, with both indices advancing further by midday Thursday, marking a sustained reversal from recent lows.
This surge follows a period of volatility linked to geopolitical tensions and shipping disruptions in the Strait of Hormuz, which had previously weighed on energy stocks.
The normalization of shipping routes and a subsequent retreat in Brent crude prices to pre-war levels helped stabilize the sector, allowing domestic equities to reprice risk more favorably.
The rally underscores the continued sensitivity of Russian markets to global energy dynamics.
As oil prices stabilize, the performance of state-linked energy giants remains the primary driver of index returns, limiting broad-based participation from other sectors.
Investors will now look to upcoming economic data releases and further developments in global oil supply chains to gauge the sustainability of this rebound.