The Moscow stock exchange soared to a record high Tuesday, in line with gains elsewhere and as investors welcomed an announcement by Vladimir Putin that he would be interested in serving as prime minister after he leaves the presidency.
The RTS index in mid-day trade rose 2.35 percent to a record 2,095.27 points, beating a previous high set in July before the emergence of a financial crisis in the US high-risk mortgage sector that roiled global markets. Most stock exchanges were up sharply in early deals on Tuesday, following developments on Monday on Wall Street, where investors were of the opinion that the effects of the US mortgage meltdown were easing.
But analysts also pointed to investor satisfaction with the prospect of Putin staying on in political office in one form or another after stepping down from the presidency next year. Analysts at the bank Deutsche UFG said in a note that Putin's disclosure Monday suggested "that political continuity now has a good chance of being maintained."