Rouble strengthens ahead of U.S.-China trade talks, stocks down

• The rouble was 0.1pc stronger against the dollar at 64.80 and had lost 0.2pc to trade at 71.36 versus the euro.
• The rouble-based MOEX Russian index was 0.53pc lower at 2698.2 points.

MOSCOW: The Russian rouble opened stronger on Thursday, helped by optimism ahead of U.S.-China trade talks.

At 0811 GMT, the rouble was 0.1pc stronger against the dollar at 64.80 and had lost 0.2pc to trade at 71.36 versus the euro.

"Today is an important day for the global currency market as exchange rates may react sensitively to news from trade talks between the U.S. and China, beginning today," said Mikhail Poddubsky of Promsvyasbank.

Brent crude oil, a global benchmark for Russia's main export, was down 0.5pc at $58.02 a barrel.

Russian stock indexes were down, with shares in Russian developer PIK opening 9.7pc lower after a shareholder sold 2.15pc of PIK shares, a source close to the deal told Reuters on Thursday.

In a market overview, Alfa Bank said Russian markets had been expected to open lower due to global uncertainty over everything from a potential breakdown in U.S.-China trade talks to the Brexit stalemate.

The dollar-denominated RTS index was down 0.42pc to 1312.0 points.

The rouble-based MOEX Russian index was 0.53pc lower at 2698.2 points.