The Russian stock market gave the worst results in the world this year. RTS quotes fell the most among 92 global indices (-35%), and the Moscow Stock Exchange (Mosbirzh) index could drop 44% by the end of 2022, informs Bloomberg.
“The dollar-denominated RTS index is down 35% this year, making it the worst of the 92 indexes tracked worldwide in local currency by Bloomberg, and the third-worst in dollar terms. The Russian MOEX index, calculated in rubles, fell 44%, the sharpest annual drop since 2008.
At the same time, in case of further aggravation of the conflict in Ukraine, the Russian stock market can expect “new losses”. A senior currency analyst at InTouch Capital Markets Ltd. said this could be due to possible tightening of international sanctions against Moscow. Peter Mathis.
“Russian stocks are looking bleak as Western sanctions begin to put pressure on the domestic economy. “The prospect of a global decline in the next few quarters does not bode well for Russian oil, especially at a time when the EU is fully committed to reducing its dependence on Russian commodities.”
November 30, Moscow Stock Exchange (Mosbirzha) Director of the Money Market Department Sergey Titov declarationreported that the trading platform’s trading volume with dollars and euros in the money market decreased by 20 times. Following the 11-month results of the current year, the share of transactions involving the world’s leading account units fell below 1%.