MOSCOW, Feb 13 (Reuters) - The Russian rouble and stocks

surged on Thursday after a telephone conversation between U.S.

President Donald Trump and Russian President Vladimir Putin in

which the two leaders discussed ways to end the Ukraine war.

At 0745 GMT, the rouble was up 3% at 90.90 against

the dollar, the highest level for the Russian currency since

September 2024, according to data from the over-the-counter

market.

The rouble briefly touched the level of 89.90, the highest

since September 11, during the trading session.

The rouble strengthened 2.6% against the dollar in the

previous session and is up 20% since the start of the year. The

Moscow Exchange (MOEX) index surged 5.8% on Wednesday and

another 4.2% on Thursday.

"The moment investors have been waiting for has arrived. The

next step towards easing geopolitical tensions," Sinara

brokerage analysts said.

Russia's sanctioned corporations such as gas giant Gazprom,

whose shares were hit by losing the European gas market,

dominant lender Sberbank and liquefied natural gas producer

Novatek led the market rally.

Foreign investors cannot buy assets at MOEX due to Western

sanctions, imposed in 2024. Due to sanctions, all trade in

dollars and euros have moved to the over-the-counter market,

making China's yuan the most traded foreign currency.