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US sanctions provoke ‘black Monday’ on Russian stock market

Russia Materials 10 April 2018 07:28 (UTC +04:00)
New US sanctions kicked the Russian ruble and stocks to all-time low figures of prior years. Notwithstanding the oil price hike, the Moscow Exchange index sustained the most serious losses from March 2014 and the ruble fell to all-time low values against the dollar over the last six months
US sanctions provoke ‘black Monday’ on Russian stock market

New US sanctions kicked the Russian ruble and stocks to all-time low figures of prior years. Notwithstanding the oil price hike, the Moscow Exchange index sustained the most serious losses from March 2014 and the ruble fell to all-time low values against the dollar over the last six months, TASS reports.

The MOEX Russia Index dropped by 8.34% to 2,090.88 points at the close of today’s trade on the Moscow Exchange. The RTS index lost 11.44% to 1,094.98 points.

The dollar rose by 3.4% to 60.15 rubles, being the all-time high from November 2017. The euro added 3.8% and climbed to 74.08 rubles, reaching the highest mark from August 2016.

Brent oil futures with settlement in June 2018 grew by 2.2% on the London’s ICE to $68.2 per barrel. Urals-Primorsk oil futures with delivery in May 2018 rose 1.07% on St. Petersburg’s SPIMEX to $65.82 per barrel.

Stocks of Rusal showed the highest decline (-20.35%), followed by Polyus (-18.31%), Mechel ordinary stock (-18.26%), Sberbank ordinary and preferred stock (-17.04% and -13.44% respectively), ordinary shares of Polymetal (-12.66%), MegaFon (-9.77%), TMK (-9.15%), VTB (-9.03%), and Aeroflot (-8.46%).

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