此外，俄罗斯的财报季仍在继续。轮到Rostelecom和Sovcombank报道了。Rostelecom股价下跌1.1%，此前该公司披露其2024年第一季度净利润较2023年同期下降28%，至125亿卢布。与此同时，Sovcombank下跌3.2%，由于CBR的长期货币立场较高，下调了2024年的收入预测。在上涨方面，该指数受到GLTR（2.5%）、Alrosa（1.5%）、MosEnergo（1.4%）和Surgut（1.2%）的支持。Alrosa在对2023年股息宣布的预期中不断增长。

The ruble-based MOEX Russia index traded above the flatline at 3,480 on Thursday, struggling to break out of sideways trend, with investor's attention shifting to the visit of Russian President Vladimir Putin to China, where he meets with Xi Jinping to discuss issues of energy cooperation and strategic partnership. Additionally, the earnings season continued in Russia. It was Rostelecom and Sovcombank's turn to report. Rostelecom fell by 1.1% after disclosing a 28% decrease in its net profit in Q1 of 2024 to RUB 12.5 billion compared to the same period of 2023. Meanwhile, Sovcombank lost 3.2%, having revised downwards its revenue projections for 2024 due to high-for-longer monetary stance by the CBR. On the side of gains, the index was supported by GLTR (2.5%), Alrosa (1.5%), MosEnergo (1.4%), and Surgut (1.2%). Alrosa was growing in anticipation of dividend announcement for 2023.

MOEX指数升至3487.00点的26个月高点。在过去的4周里，MOEX上涨了0.7%，在过去的12个月里，它上涨了32.4%。

MOEX increased to a 26-month high of 3487.00 Index Points. Over the past 4 weeks, MOEX gained 0.7%, and in the last 12 months, it increased 32.4%.

在俄罗斯银行鹰派言论的支持下，俄罗斯10年期OFZ的收益率接近15%，接近2001年以来的最高水平。CBR官员在上次会议记录中表示，利率可能必须在当前水平上保持更长时间，而且由于价格压力上升，不排除进一步加息。此前，2024年和2025年的平均关键利率分别上调至15-16%和10-12%。与此同时，每周通胀率加速至7.8%也缩小了监管机构今年开始放松政策的窗口，而政府支出的增加增加了克里姆林宫对OFZ发行以弥补财政赤字的依赖。据初步估计，2024年第一季度联邦预算支出额为93260亿卢布，同比增长20.1%。

The yield on the Russian 10-year OFZ held near 15%, close to its highest since 2001, supported by hawkish rhetoric of Bank of Russia. In its minutes from the last meeting, the CBR officials stated that the interest rates might have to stay at current levels longer and further rate hikes were not excluded due to elevated price pressures. This followed the upward revisions for the average key interest rate for 2024 and 2025 to 15-16% and 10-12%, respectively. Meanwhile, acceleration in weekly inflation to 7.8% also narrowed the window for regulator to begin loosening policy this year and rising government spending increased Kremlin's dependence on OFZ issuance to cover fiscal deficit. According to preliminary estimates, the volume of federal budget expenditures in the first quarter of 2024 amounted to 9,326 billion rubles, which is 20.1% year-on-year higher than the previous year.

受CBR紧缩政策和贸易数据改善的支撑，俄罗斯卢布稳定在每美元91卢布附近，为2个月来的最高点。俄罗斯央行在其上一篇评论中表示，货币宽松还有很长的路要走，今年不排除会有更多的加息。与此同时，卢布也受到主要国家石油和天然气运输的外汇流入增加和进口下降的支撑。2024年3月，俄罗斯的采购额同比下降18.1%，至229亿美元，导致贸易顺差飙升至2022年12月以来的最高水平。此外，将主要出口导向型企业的资本管制延长至2025年4月底，支持了这一势头。另一方面，卢布面临着政府支出和货币供应增加带来的阻力。4月份，M2货币供应量每月增长3.74卢布，这是历史上最显著的增长，不包括12月份，当时货币供应量因季节性而增长。

The Russian ruble stabilized near the 91 per USD mark, its strongest in 2 months, underpinned by CBR's tight policy and improved trade figures. The Bank of Russia signalled in its last commentary that the monetary easing was a long way off and more rate hikes were not excluded for this year. Meanwhile, ruble was also buttressed by higher foreign exchange inflows from key countries' oil and gas shipments and falling imports. In March 2024, Russia's purchases plunged by 18.1% year-on-year to USD 22.9 billion, causing the trade surplus to surge to its highest since December 2022. Furthermore, the extension of capital controls for main export-oriented firms until the end of April 2025 supported the momentum. On the other hand, ruble faced headwinds from rising government spending and the money supply. In April, the M2 money supply grew by 3.74 rubles per month - the most significant increase in history, not counting December, when the money supply grows due to seasonality.