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Rouble hits multi-month low on Ukraine escalation fears
  + stars: | 2022-10-11 | by ( ) www.reuters.com   time to read: +2 min
By 1201 GMT the rouble was down 1.2% against the dollar at 63.44 after touching 63.9975 for its weakest since July 7. The rouble has been supported by capital controls and a collapse in imports since Western sanctions were imposed over Russia's actions in Ukraine and companies left the market in droves. Promsvyazbank analyst Yevgeny Loktyukhov pointed to escalation in Ukraine and a pullback in oil prices as a reason for the rouble's slide. Brent crude oil , a global benchmark for Russia's main export, was down 1.7% at $94.58 a barrel at 1200 GMT. Russian stock indexes, which were dragged sharply lower by Gazprom (GAZP.MM) in the previous session, were regaining some ground.
By 1409 GMT the rouble was down 2.1% against the dollar at 64.03 , its weakest since July 7. The rouble has been supported by capital controls and a collapse in imports since Western sanctions were imposed over Russia's actions in Ukraine and companies left the market in droves. Already blighted by Western sanctions, Russia's economy now faces a more self-inflicted blow, with President Vladimir Putin's military mobilisation drive threatening to undermine productivity, demand and recovery. Promsvyazbank analyst Yevgeny Loktyukhov pointed to escalation in Ukraine and a pullback in oil prices as a reason for the rouble's slide. Brent crude oil , a global benchmark for Russia's main export, was down 2.3% at $94.0 a barrel at 1410 GMT.
By 1217 GMT, the rouble was 0.9% stronger against the dollar at 57.00 , earlier hitting 56.5450, its strongest point since July 22. "For now, the rouble is supported by fears that new sanctions from the West could paralyse dollar trading in Russia," said Alor Broker in a note. STOCKS RECOVERY STUTTERSBCS Global Markets said geopolitical risks should prohibit any major leg up for Russian stock indexes, which pared early gains. The rouble-based MOEX Russian index (.IMOEX) was 1.4% lower at 1,936.0 points, heading back towards February lows hit on Monday. "In the coming days, the Russian market should trade in a narrow band - investors are likely to sit on the fence hoping for more clarity," BCS said.
Russian stocks plunge to February invasion lows
  + stars: | 2022-09-26 | by ( Elliot Smith | ) www.cnbc.com   time to read: +1 min
An activist participates in an unsanctioned protest at Arbat Street Sept. 21, 2022 in Moscow, Russia. The sign plays on the word mobilization as "No burialization." Russian stocks fell sharply on Monday to reach their lowest point since Feb. 24, the day the first Russian troops entered Ukraine. The MOEX Russia Index was down 6.9% by early afternoon in Europe, having fallen as much as 7.4% earlier in the session. Markets in Moscow have been in general decline since President Vladimir Putin announced a military mobilization last week, setting the Russian economy on a war footing and likely prolonging the conflict in Ukraine.
Register now for FREE unlimited access to Reuters.com RegisterThe NSD filed a lawsuit at the European Court of Justice in Luxembourg on Aug. 12, but gave no further details. The EU sanctions on the NSD, as well as other Western measures aimed at restricting Russia's access to global financial infrastructure, have blocked many Russian investors' access to securities held in jurisdictions outside Russia. The NSD said that sanctions had been imposed based on "unsubstantiated" facts and that the Council had "failed to meet the required standard of proof", making the sanctions unlawful. Russian Eurobond issuers have started issuing securities to replace those stuck abroad due to sanctions imposed on Moscow for what it calls a "special military operation" in Ukraine. Register now for FREE unlimited access to Reuters.com RegisterReporting by Elena Fabrichnaya and Alexander Marrow, editing by Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.
Rouble surges, stocks fall as Russia holds Ukraine referendums
  + stars: | 2022-09-23 | by ( ) www.reuters.com   time to read: +3 min
REUTERS/Dado RuvicSummarySummary Companies This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine. Sept 23 (Reuters) - The Russian rouble surged to new multi-week highs on Friday while stocks fell in volatile trade as Moscow mobilises some 300,000 extra troops for the conflict in Ukraine. But Russian stocks were deep in the red as markets remain jittery over how Russia's mobilisation drive will affect the conflict. Russian shares have seen heightened volatility all week in response to the mobilisation order and as Moscow stages referendums in four regions of Ukraine on joining Russia. For Russian equities guide seeFor Russian treasury bonds seeRegister now for FREE unlimited access to Reuters.com RegisterReporting by Jake Cordell.
Sept 22 (Reuters) - Russia's Positive Technologies still plans to go ahead with its secondary public offering (SPO), despite a sell-off in Russian share market this week, executives of the cybersecurity firm said on Thursday. The company launched a placement of up to 2.6 million existing shares on Monday in an SPO, the first share sale by a Russian company since Moscow sent troops into Ukraine in February. read moreRegister now for FREE unlimited access to Reuters.com RegisterThe rouble-based MOEX Russian share index (.IMOEX) picked up slightly on Thursday and was 2.5% higher as of 0939 GMT. "We are confident that the current market situation amid the fall of the Moscow Exchange index is temporary," Positive Technologies' Investor Relations director Yury Marinichev said during a video call organised by brokerage ITI Capital. The company, which gets 98% of its revenue from Russia, plans to expand overseas possibly in the Middle East and Latin America, Vladimir Zapolyanskiy, another Positive Technologies' executive, said on the call.
Woman holds Russian Roubles in front of U.S. Dollar banknotes in this illustration taken May 30, 2022. The benchmark rouble-based MOEX index (.IMOEX) hit its lowest point since Feb. 24, the day Russia sent tens of thousands of troops into Ukraine, before paring some losses. The MOEX index was down 2.4% at 2,162.4 points, after earlier hitting a low of 2,002.73 points. The dollar-denominated RTS index (.IRTS) was down 2.6% to 1,124.5 points, after earlier reaching its lowest point since April 27. For Russian equities guide seeFor Russian treasury bonds seeRegister now for FREE unlimited access to Reuters.com RegisterReporting by Alexander Marrow Editing by Mark Heinrich and Mark PotterOur Standards: The Thomson Reuters Trust Principles.
Russian stocks plunged Tuesday on signs that Moscow may escalate its war on Ukraine. Lawmakers are advancing legislation to heighten punishments for military crimes, raising fears of full mobilization. Russian officials also announced plans to hold sham annexation votes in occupied parts of Ukraine. Some hard-line lawmakers have been calling for an expansion of the military draft since it gave up huge swaths of territory in eastern Ukraine. Meanwhile, Moscow moved to hold sham referendums to fully annex occupied territory in eastern and southern Ukraine.
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