Merger Polls: Moscow Stock Market Falls 9% / Gazprom Loses More Than 10%

The Moscow stock market fell nearly 9% on Tuesday after pro-Russian authorities announced referendums on annexation with Russia in four Moscow-controlled regions of eastern and southern Ukraine, writes AFP.

Moscow Stock ExchangePhoto: Dreamstime

The main Moex index (in rubles) fell 8.84% to 2,215.67 points and the RTS (denominated in dollars) fell 9.31% to 1,154.17 points, according to data from the financial platform.

These were the biggest declines since the Russian offensive in Ukraine began on February 24, when markets plunged 33%.

That day, nearly $190 billion evaporated in one day, and the stock market decided to shut down most of its operations the next day for several weeks.

Since then, Russia’s central bank has instituted strict controls on market transactions, particularly in relation to trading currencies.

The share price of Russian giant Gazprom, which is majority-controlled by the Russian state, fell 10.56% on Tuesday amid a fresh escalation between Moscow and Kiev.

The ruble, which has been strengthening for months, has barely moved against the dollar and euro.

The main Moex index (in rubles) fell 8.84% to 2,215.67 points and the RTS (denominated in dollars) fell 9.31% to 1,154.17 points, according to data from the financial platform.

These were the biggest declines since the Russian offensive in Ukraine began on February 24, when markets plunged 33%.

That day, nearly $190 billion evaporated in one day, and the stock market decided to shut down most of its operations the next day for several weeks.

Since then, Russia’s central bank has instituted strict controls on market transactions, particularly in relation to trading currencies.

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The share price of Russian giant Gazprom, which is majority-controlled by the Russian state, fell 10.56% on Tuesday amid a fresh escalation between Moscow and Kiev.

The ruble, which has been strengthening for months, has barely moved against the dollar and euro.

Photo: Dreamtime

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