The stock exchange was closed for almost a month after the start of the war on February 24th.
(Photo: Reuters)
Moscow A good month after the start of Kremlin chief Vladimir Putin’s war of aggression against Ukraine, the Moscow stock exchange will allow trading in shares of all Russian companies again for the first time next week. Most recently, only papers from 33 companies were allowed.
A shortened trading day for Russian equities is scheduled for this Monday – from 9.50 a.m. to 1.50 p.m. (8.50 a.m. to 12.50 p.m. CEST), the Russian central bank in Moscow announced on Saturday. Short sales are still prohibited, it said. Foreign investors are also still unable to sell
The stock exchange was closed for weeks after the start of the war on February 24 and only resumed restricted trading last Thursday. Many papers had jumped sharply, which is why the companies were able to make up some of the losses.
The shares of Russian companies such as the gas monopoly Gazprom, the oil company Lukoil and the state airline Aeroflot collapsed after the beginning of the war, which is why trading in the securities was suspended. The US government criticized the actions of the Russian stock exchange.
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“This is not a real market and not a sustainable model, which only underscores Russia’s isolation from the global financial system,” Deputy National Security Advisor Daleep Singh said on Thursday. Russia has made it clear that it will invest state funds in artificially supporting company shares.
More: After a long closure: the leading Russian index Moex rises by more than eleven percent at the start.