Russian stocks reach highest level since 2008

Improvements in Western relations and currency

Russia's benchmark index, the Micex, has reached a seven-year high following a temporary improvement in the country's relations with the West and an ongoing stabilisation in its currency.

The index closed at around 1,868 points on Monday, up 41.4% over the day, representing an increase of more than 15.3% since the start of October. According to the Financial Times, the index had not reached this level in more than seven-and-a-half years after climbing for the sixth day straight. The rise follows a degree of cooperation between the West and Russia following terrorist attacks in Paris, which saw 129 killed in the capital earlier this month. Alongside the recent downing of a Russian airliner, prospects of co-operation between Russia and the West over the civil war in S...