The MEX Russia index achieved a remarkable rise in the last trading sessions, recording a 2.35% increase to close at 3,195.08 points, leading European markets in terms of daily performance, and the index witnessed a move between 3,135.00 points as the lowest level and 3,200.36 points as the highest level, driven by a wide purchase wave.
Several factors have strengthened this rise, most notably the high oil and gas prices, which greatly supported energy shares, in addition to improving economic data that contributed to enhancing investor morale, and the financial sector also played a major role in supporting the market, taking advantage of liquidity flows and positive financial results.
Factors pushed the index to the European lead
Several factors contributed to making MEEX Russia the best performance among European indicators, as high energy prices enhance the demand for the shares of this vital sector, which was reflected directly on the performance of the market, and the improvement of economic data, especially related to industrial production and increased consumer spending, contributed to raising the confidence of investors, which led them to intensify purchases.
Future expectations and market direction
Technical analysis shows the continuation of the emerging trend of the index, as it exceeded main resistance levels, supported by positive signals, in addition to the power of purchasing momentum reflected by technical indicators such as the RSI.
The geopolitical challenges and fluctuations in energy prices remain factors affecting the market performance in the medium term. In the event that the global energy prices continue in their upward direction and leadership companies continue to achieve strong financial results, Moex Russia is likely to continue to achieve more gains, which makes it an attractive investment destination in the coming weeks.
