Russian markets open lower ahead of Istanbul talks with Ukraine

Russian stocks and the ruble fell as investors reacted cautiously to upcoming negotiations between Russia and Ukraine in Istanbul.

Russian financial markets opened lower as delegations from Moscow and Kyiv prepare to meet in Istanbul for a new round of peace talks.

The Moscow Exchange (MOEX) Index dropped by 1.3%, slipping below 2,793 points, while the RTS Index declined by 1.28% to 1,119 points. The ruble also weakened slightly, with the USD/RUB exchange rate rising 0.27% to 79.3.

Analysts attributed the market downturn to investor skepticism over the outcome of the negotiations, particularly in light of recent Ukrainian strikes on Russian military airbases.

Market sentiment remains fragile, with participants watching closely for any signs of progress in the talks that could influence geopolitical risk and economic outlooks.

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