Russia’s stock market reported gains during limited trading on Thursday as it reopened for the first time since the initial stages of President Vladimir Putin’s invasion of Ukraine. Tra…
Russia’s stock market reported gains during limited trading on Thursday as it reopened for the first time since the initial stages of President Vladimir Putin’s invasion of Ukraine.
Trading of a limited number of stocks including energy giants Gazprom and Rosneft took place under curbs that are meant to prevent a repeat of the massive selloff that took place Feb. 24 in anticipation of Western economic sanctions.The benchmark MOEX index gained 8% in the first minutes of trading. The reopening of stock trading on the Moscow Exchange has little impact on investors outside Russia. Its market capitalization, which totals $773 billion, is a fraction of that of major Western or Asian markets.is roughly $28 trillion.
In the days after the invasion began, MSCI Inc., the global equity index, declared the Russian stock market “uninvestable” for foreigners. MSCI removed the Moscow Exchange from global indexes. A day after President Vladimir Putin launched the invasion of Ukraine, the Moscow Exchange saw a massive sell-off, prompting the central bank to shut down trading for weeks.The invasion prompted Western governments led by the United States and the European Union to impose sanctions on the Russian economy.
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