Russian stocks surge on likely Trump victory

The Russian stock market has rallied amid reports of Donald Trump’s likely victory in the US presidential election. The Republican candidate has already declared victory after securing wins in key battleground states in the race for the White House against Democrat Kamala Harris.

Shares in all major Russian companies have been on the rise since preliminary results of the US election started to appear. Stock in state energy giant Gazprom grew by 5% in morning trading, while Lukoil shares jumped by 2.8%. Shares in oil major Rosneft were up by 3%, while Tatneft saw a 4.6% increase. Shares in mining giant Norilsk Nickel rose by 3.6%, while aluminum major Rusal saw its stock jump by 3.4%. The country’s largest lender, Sber,saw a gain of 3.6%. Diamond major Alrosa stock surged by 5.3%, while Russia’s national airline, Aeroflot, saw its stock spike by 5.9%.