Russian stocks, rouble hold steady as market awaits Putin-Trump talks
Aug 12 (Reuters) - The rouble hovered close to 80 to the dollar on Tuesday and Russian stocks steadied after several sessions of strong gains, with investors waiting to see if this week's talks between Moscow and Washington yield a Ukraine ceasefire.
Russian markets have been particularly jittery for the past two weeks since U.S. President Donald Trump set an August 8 deadline for Russia to agree to peace in Ukraine or face tightened sanctions. All eyes are now on the August 15 meeting between Trump and Russian President Vladimir Putin in Alaska.
By 0758 GMT, the rouble was down 0.4% at 79.80 to the dollar, according to data compiled by LSEG based on over-the-counter quotes, and lost 0.4% to 11.06 against China's yuan, the most traded foreign currency in Russia.
Geopolitics is currently buttressing the rouble, but energy market weakness and demand for foreign currency from importers are offsetting this support, said Promsvyazbank analyst Bogdan Zvarich.
Brent crude oil LCOc1, a global benchmark for Russia's main export, was up 0.4% at $66.87 a barrel.
"At the same time, some traders may adopt a wait-and-see position on the FX market ahead of negotiations between the leaders of Russia and the United States, which could contribute to lower trading activity and reduced volatility," Zvarich said.
Russia's main stock market index MOEX .IMOEX, which hit a more than three-month high of 2,996 points on Monday, was down 0.3% at 2,956 points.
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