Russian stocks finished the week strong on Friday with the main Moscow index gaining over one percent. This jump was fueled by solid performances in power companies, phone providers, and the oil and gas industry. Investors seemed optimistic following news that President Vladimir Putin would be making an important statement regarding the country’s foreign policy. This news created a sharp upward trend in the middle of the trading day, helping the market stay in positive territory until the final bell.

The biggest winner of the day was the power company RusHydro, which saw its stock price rise by nearly three percent. Other top performers included the natural gas giant Novatek and the home builder PIK Group. On the other hand, some oil and gold mining companies saw small losses. Despite these few dips, many more stocks went up than down on the Moscow Exchange. This positive movement also pushed the market’s volatility index to a new one-year low, suggesting that investors are feeling more calm about the future.

In the commodities market, oil prices rose slightly while gold prices fell. The increase in oil prices helped support many of the energy companies that drive the Russian economy. Meanwhile, the Russian ruble had a mixed day, getting stronger against the euro but losing a bit of value compared to the U.S. dollar. Overall, the market’s performance shows a period of steady growth as investors react to the latest political news and stable energy prices.