November 18, 2019 / 7:54 AM / a month ago

Rouble steady as investors await clues on U.S.-China trade deal

MOSCOW, Nov 18 (Reuters) - The Russian rouble was stable against the U.S. dollar on Monday, as investors awaited further developments on the prospect of a trade deal between the United States and China.

Chinese state media Xinhua reported at the weekend that China and the United States had had “constructive talks” in a high-level phone call, without giving further detail.

For more than a year the U.S. and China have been locked in a trade dispute that has rattled international markets and threatened to slow the global economy.

“The main theme influencing global markets remain a trade deal between the United States and China, which must be reached before December 15 to avoid yet another increase in tariffs by the United States,” said Anton Startsev, an analyst at Olma Investment Group.

At 0739 GMT, the rouble was flat against the dollar at 63.75 and was trading at 70.53 versus the euro .

Elena Kozhukhova, an analyst at Veles Capital, said the rouble would remain largely flat on Monday given the absence of new clues on the prospect of a trade deal.

Prices for Brent crude oil, a global benchmark for Russia’s main export, remained steady at around $63.30 on Monday.

Russian stock indexes were up.

The dollar-denominated RTS index was up 0.4% to 1,455.6 points, while the rouble-based MOEX Russian index was 0.3% higher at 2,944.6 points.

Shares in Russian internet company Yandex were up nearly 5% on Monday after its share repurchase program was approved.

The company also announced on Monday that it planned to adjust its corporate governance structure in a bid to adjust to Russia’s “evolving regulatory environment.”

For Russian equities guide see

For Russian treasury bonds see

Reporting by Gabrielle Tétrault-Farber; Editing by Shailesh Kuber

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