The rise in oil prices following the agreement by OPEC and other oil producers to cut output has helped Russian equities and the ruble to outperform for the second consecutive month. Elsewhere, Polish equities have also fared well over the past month and have largely shrugged off the political turmoil seen over the weekend. Overall, equity markets across the region have generally strengthened over the past month. The MSCI Emerging Europe Index is up by around 10% in local currency terms, posting larger gains than the broader MSCI Emerging Markets Index (up by 1%) and the MSCI World Index (up by 4%).
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