USA topple the Russian market

US sanctions have a negative hit on the Russian stock market.

США обвалили російський ринок

US sanctions have a negative hit on the Russian stock market. The index of the Moscow exchange at the auction on April 9 to 13:10 MSK decreased by 9,386 percent, or 214,12 points to 2067,11 points. The RTS index by this time fell to 11,539 percent to 1093,8 item, the drop was 142,68 points. This according to the auction, reports Rus.Media.

Together with the indices reduced rate of the ruble against world currencies. By 13:30 GMT the Euro for the first time from September 2016 exceeded 73 rubles. The dollar by this time was worth 59.5 ruble, above 60 rubles U.S. currency was last up in November 2017.

Bloomberg notes that the fall of the Russian markets — a record for the last two years.

The leader of the fall in the expected steel company and the assets of the business, which was in new sanctions list of the U.S. Treasury. For example, shares of “RUSAL” Oleg Deripaska day fell to 27-30 percent, and in early trading had fallen by 46.9 percent, to 15.04 rubles per share.

Shares of another company Deripaska’s En+ group, which recently held an IPO in London fell by 21.68 percent or 126,5 ruble per share, to 457 rubles per share. At the start, they fell by 22.8 percent to 450 rubles per share. Because of the sharp collapse in the value of securities the London stock exchange decided to suspend trading of En+.

The status of Oleg Deripaska at the end of 6 April, has already fallen by more than a billion dollars. According to the results of the current auction, it risks to fall even further. “RUSAL” on April 9 against a collapse of quotations has warned investors on the risks of technical default.

The U.S. Treasury on 6 April published a new sanctions list, which also hit Russian top-managers, businessmen and officials.

Share Button