Russian Stock Market Plunges Amid Global Economic Worries
The Russian stock market experienced a sharp decline on Tuesday, mirroring the trend of falling global markets and plummeting oil prices. The benchmark stocks on the Moscow Interbank Currency Exchange (MICEX) dropped by 2.48%, while the RTS Index fell by 2.41%. The International Monetary Fund's (IMF) revised forecast for U.S. and Japanese economic growth contributed to the downturn. Several prominent companies, including Transneft, Gazprom Neft, Gazprom, and Polyus Gold, saw significant losses.
Key Takeaways:
- The Russian stock market lost 2.48% on the MICEX and 2.41% on the RTS Index, marking a significant decline.
- Transneft experienced the largest loss among benchmark stocks, dropping by 5.5%.
- Gazprom Neft, Gazprom, Federal Grid Co., and Polyus Gold also posted substantial losses, ranging from 3.4% to 4.2%.
- Sberbank, Rosneft, Surgutneftegas, VTB, Lukoil, and Rostelecom were among the losers, with declines between 2.7% and 3.5%.
- Second-tier stocks TGK-13, Razgulay, TGK-1, Sollers, and TGK-9 also experienced significant losses, with drops ranging from 3.9% to 6.4%.
- O2TV and Magnit were the only companies to post gains, increasing by 7.8% and 0.1%, respectively.
- Total RTS Classic Trading for the day amounted to $9.615 million, while RTS Standard deals totaled $473.76 million, and MICEX Stock Exchange transactions reached 72.94 billion rubles.
Statistics:
- MICEX benchmark stock price drop: 2.48%
- RTS Index drop: 2.41%
- Number of companies experiencing losses: 14
- Largest loss among benchmark stocks: Transneft (5.5%)
- Total RTS Classic Trading: $9.615 million
- RTS Standard deals: $473.76 million
- MICEX Stock Exchange transactions: 72.94 billion rubles
Sources:
- Interfax, April 12