The Moscow Exchange index exceeded 3,000 points for the first time since April

In the morning trading, the Moscow Exchange index rose above 3,000 points for the first time since April 29, reaching a peak of 3,015.62 (+3.1%). Further, the growth slowed to 2.26%, and the current quote of the index is up to 2978 points. 

Among the growth leaders are En+ Group (+3.2%), Aeroflot (+2.9%), Unipro (+2.7%), UC Rusal (+2.6%) and Severstal (+2.3%).

The main incentive for the market was the news about the upcoming meeting of the presidents of the United States and Russia, Donald Trump and Vladimir Putin, on August 15 in Alaska. Investors have massively changed cautious tactics to active purchases, betting on metallurgy, energy and transport companies that can benefit from resolving the conflict in Ukraine.

Analysts have already called the current growth a «rally of hope», noting that reducing short positions increases the market's vulnerability to any disappointment.

Experts also note that Trump's ultimatum to Moscow, which expired on August 8, did not lead to new sanctions, which supported investor optimism. They predict that the market may grow even more ahead of the summit, but skepticism about the terms and conditions of the peace agreement will remain until clear official statements from the parties.