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Russian Stock Market Jumps With Foreign Investors Blocked From Selling

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Russia’s stock market jumped in its first, limited trading session since the West unveiled punishing sanctions nearly a month ago, but the rally was overshadowed by government moves to prevent foreign investors from selling shares

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The benchmark MOEX index rose around 4%. Only 33 shares out of 50 on the index were allowed to trade in the shortened session. Russian energy giant Gazprom PJSC rose 13%, while its peer Lukoil PJSC rose 12%. Energy prices have surged since the last time they traded. Russian bank stocks were mixed despite being the target of sanctions. VTB Bank PJSC fell 5.5%. Sberbank Russia PJSC rose 3.9%.

 

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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,” he said.’

Good. They all deserve to lose everything.

It's just the Russian government buying. Nobody else in their right mind would.

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