Moscow Exchange Index, Inflation and Gazprom Stocks: Investor Digest
The index of the Moscow Exchange jumped above 2500 on the results of negotiations in Abu Dhabi. Inflation from November 3 to 9 was 0.12% against deflation of 0.04% a week earlier. Gazprom shares traded in the leaders of the index
Mobiri Index
On Thursday, November 11, the Russian stock market showed positive dynamics. The index of the Moscow Exchange (IMOEX) according to the results of the main trading session increased by 1.87% and rose to 2490.01 points. The evening session ended at 2494.77 points (+ 2.01%).
On November 11, two-day talks between the delegations of Russia, the United States and Ukraine ended in Abu Dhabi. The Russian delegation was headed by presidential aide Vladimir Medinsky, the Ukrainian delegation was headed by the head of the Foreign Intelligence Service Rustem Umerov. The United States at the meeting was represented by special envoy of the President Steve Whitkoff and son-in-law of Donald trump Jared Kushner.
In anticipation of news from the negotiations, the index of the Moscow Exchange decreased. Shortly after the start of the press conference of the Russian delegation, the index recovered most of the losses. The Russian stock market by the end of the main session came in a confident plus, obviously reacting to the words of the Russian presidential aide Medinsky about the parties’ approach to peace following the talks in Abu Dhabi, said Elena Kozhukhova, an analyst at Veles Capital.
Investors were also optimistic about the announcement of a planned visit by US special envoys for the Ukrainian crisis to Moscow for talks with Vladimir Putin on Thursday. Officials after the talks also noted progress on security and a base for further discussions.
On Thursday, November 12, trading in the Russian market opened with growth, and the index of the Moscow Exchange exceeded 2,500 points. By 8:02 MSK, the index of the Moscow Exchange added 0.27%, and traded at 2496.65 points.
Further dynamics of the stock market will depend on signals from the external contour, said Mikhail Seltzer, an expert at BCS World of Investments. According to the expert, the probability of heading to the peaks of autumn - in the area of 2550 points - looks slightly higher than the next maneuver down.
The current growth of the Moscow Exchange index is still more correct to consider as a speculative reassessment of the probability of a positive scenario, and not as the beginning of a stable uptrend, says Yaroslav Kabakov, director of strategy at Finama. “Today’s meeting in Moscow could be an important catalyst, but the market has repeatedly bought into expectations that have not been realized.” In the absence of concrete results, profit fixing is likely.
Inflation
According to Rosstat, from 3 to 9 November, the consumer price index increased by 0.12%. A week earlier, deflation was 0.04%. Since the beginning of 2026, consumer prices have increased by 6.33%.
Annual inflation, as reported by the Ministry of Economic Development, by November 9 accelerated to 6.98% from the level of 6.95% recorded a week earlier.
“The return of weekly inflation to the positive zone means that the previous decline of 0.04% was largely technical (due to the fall in the cost of fuel) and did not change the overall inflationary background,” said Vasily Karpunin, head of information and analytical content at Alfa-Investments. However, the figure of 0.12%, according to the expert, looks high, given that gasoline continued to become cheaper.
“By the end of the year, we expect inflation to be slightly above 7%. Prerequisites for changing the rhetoric of the Central Bank statistics do not yet give. In the baseline scenario, the regulator at the December meeting will keep the key rate at 14%, Karpunin wrote.
Gazprom shares
The shares of Gazprom jumped by 3.67% following the results of trading on November 11, reaching у117.45 per share and becoming the leaders of the Moscow Exchange index. Noticeably, the quotations of Novatek also increased.
Despite the geopolitical threat to oil and gas infrastructure, gas producers have again shown heightened sensitivity to longer-term geopolitical prospects. In addition, their possible improvement will reduce the corresponding short-term risks, said Dmitry Babin, an expert at BCS World of Investments.
Corporate events
Rostelecom. Financial results under IFRS for nine months of 2026; "Hedhunter". Financial results for the third quarter of 2026. EL5-Energy: RAS reporting for 9 months of 2026
Other important developments
Negotiations of special envoy of the US President Steve Whitkoff and son-in-law of the American leader Jared Kushner with Russian President Vladimir Putin; Bank of Russia Governor Elvira Nabiullina will speak in the State Duma; Sberbank will hold Investor Day and present a strategy until 2029; Moscow Exchange will begin trading with nine eternal futures for global assets; Britain: GDP, the third quarter – 10:00 MSK; Turkey: inflation – 10:30 MSK Russia: international reserves of the Central Bank – 16:00 MSK; USA: oil reserves according to EIA – 20:00 MSK.
