MOEX

2022 - 3 - 24

Post cover — Image courtesy of "Bloomberg"

Russian Stocks Give Up Gains in Second Day of Limited Trading (Bloomberg)

Russian stocks fell on Friday, reversing most of the gains made in the previous session when the market reopened following a record long shutdown, ...

Russian stocks fell on Friday, reversing most of the gains made in the previous session when the market reopened following a record long shutdown, while government measures to prevent a selloff helped limit the losses.

Russia's stock index reopens and rises with government intervention. (The New York Times)

After shutting down for almost a month, the Russian stock market reopened for limited trading on Thursday. Just 33 companies, all listed in the benchmark MOEX index, were allowed to trade on the Moscow Exchange for four hours and 10 minutes.

It was the first opportunity for local stock trading since Feb. 25. On Thursday, the index rose as much as 11.8 percent shortly after trading began, but then lost most of that gain. Shares in VTB, a bank that has recently come under sanctions, fell nearly 6 percent. Shares in Aeroflot, the Russian airline, dropped 16 percent. And in late February, the central bank barred brokers from executing sell orders by foreigners. The market opened for the first time since Feb. 25, and the MOEX index was probably pushed up by measures designed to avoid a sell-off.

Russia stocks rebounds as trading resumes on MOEX (bne IntelliNews)

Russia's stocks gained 11% on Moscow Exchange (MOEX) after limited trading resumed on March 24 on the ruble-denominated MOEX Russia Index following almost a month of inactivity. The Russian equity market was suspended immediately after the Russian ...

However, it was reported that foreign investors have not participated in either the bond or equity market since the war broke out at the end of February. It remains unclear if the CBR used any of this money in the first day of trading. Amongst the buyers of stocks were Russian retail investors. However, the shares in Russia’s VTB Bank and the national airline Aeroflot – both of which are under sanctions – tumbled in volatile trading. Shares in mining giant Norilsk Nickel also gained 10%. NorNickel has benefited from the tailwind of spiking nickel prices, driven up by fears that it would be sanctioned. The MOEX index fell from 3,511 the week before the invasion to 2,470 afterwards, where it has remained for the last three weeks.

Russia's stock market is back with a bang after a month offline—but ... (Fortune)

The Moscow Stock Exchange had been closed since Feb. 25. It reopened on Thursday with heavy conditions on who could buy and sell.

The last time global investors saw a shutdown of the duration the MOEX experienced was in the summer of 2015 when Greek officials closed the Athens Stock Exchange for five weeks. "Falling down a bottomless pit was among the possibilities," he added. One impetus for that came from Russian President Vladimir Putin's surprise statement on Wednesday to demand that "hostile states"—presumably the European Union— pay for Russian energy imports in rubles. At 5:30 a.m. ET, the MOEX was up 5.8% with Russian blue chips Sberbank and Gazprom racking up impressive gains of 5.2% and 15%, respectively. Russian stocks jumped by more than 10% in the opening hour, but in severely limited trading. The surprisingly strong performance of the MOEX—or Moscow Stock Exchange—comes with major caveats.

Wild moves in Russian stocks as market reopens after monthlong ... (CNBC)

Short-selling on stocks was banned and foreign investors will not be able to sell stocks or OFZ ruble bonds until April 1. The MOEX Russia Index was up more ...

However, the impact on medium- and long-term prospects is likely to be even more severe," the D.C.-based international industry body said. "But this is unlikely to happen. The Institute of International Finance on Wednesday projected that the Russian economy will contract by 15% in 2022 due to the war in Ukraine, in particular noting the "self-sanctioning" of foreign companies as a contributing factor. Short-selling on stocks was banned, however, and foreign investors will not be able to sell stocks or OFZ ruble bonds until April 1. - Short-selling on stocks was banned and foreign investors will not be able to sell stocks or OFZ ruble bonds until April 1. Jeroen Blokland, founder and head of research at Dutch investment firm True Insights, said in a tweet Thursday that investors were going back into Russian stocks "perhaps based on the idea that valuations will revert to pre-war levels."

Moscow Stock Exchange Reopens but Only for Russians, MOEX ... (The Tokenist)

Short-selling was not allowed and foreign investors were prohibited from selling stocks completely. It is likely that these decisions stem from the Russian ...

“But this is unlikely to happen. Furthermore, foreign investors are not allowed to sell stocks or OFZ ruble bonds, which are federal loan bonds issued by the Russian government, until April 1. The trading took place on Wednesday between 9:50 to 14:00 Moscow time (3 a.m. and 7 a.m. ET). Oil giants Rosneft and Lukoil also registered impressive gains, increasing by more than 17% and 13%, respectively. The country has also introduced capital control measures like banning residents from transferring foreign currency. Short-selling was not allowed and foreign investors were prohibited from selling stocks completely.