Connect to share and comment

Moscow stocks at four-year low ahead of Crimea referendum

Moscow stocks plunged to a four-year low Friday as jittery investors dumped their holdings ahead of a referendum in Crimea over its bid to break away from Ukraine and join Russia. The capital's two main indices MICEX and RTS opened down, but losses accelerated to more than 5.0 percent by midday before recovering to 4.37 percent and 4.82 percent, respectively. MICEX has fallen to a level that has not been reached since September 2009, while RTS is at its lowest point since August 2009.

Moscow stock markets open higher after Monday's plunge

Moscow's stock markets opened more than three percent higher on Tuesday after plunging over 10 percent the day before in reaction to Russia's military intervention into Ukraine. By around 0620 GMT, Moscow's MICEX bourse had risen by 3.20 percent while the other main Russian market, the RTS, had risen by 3.30 percent. In the opening minutes they had risen by more than four percent. The markets regained some ground after their collapse on Monday when the MICEX closed down 10.79 percent and the RTS closed down 12.01 percent.

Russian assets resilient to long-term GDP downgrade

MOSCOW (Reuters) - Russian assets showed little reaction to a sharp downward revision in the country's long-term economic growth forecasts with market participants finding the new estimates more realistic. The Economy Ministry predicted that growth will average just 2.5 percent annually until 2030 versus 4 percent in the previous forecast.

Russia exchange earns disappointing $4.2 bn valuation

The Moscow Exchange was priced Friday at $4.2 billion in a disappointing flotation that valued Russia's main bourse at the lowest end of its own estimates. The valuation was a blow President Vladimir Putin's efforts to transform Moscow into a global financial centre and underscores analyst mistrust of a bourse now mired by low volumes and regular trading in just a few big stocks. The exchange -- formed in a 2011 merger of the MICEX and RTS trading floors -- said the price for the initial public offering had been set at 55 rubles after a 10-day roadshow in Moscow and abroad.

Russia exchange earns disappointing $4.2 bn valuation

The Moscow Exchange was set for a relatively disappointing flotation Friday after Russia's main trading platform was valued at $4.2 billion, well below its own valuation estimates. The news deals a blow to President Vladimir Putin's efforts to transform Moscow into a global financial centre and underscores analyst mistrust of a bourse now mired by low volumes and regular trading in just a few big stocks. The exchange -- formed in a 2011 merger of the MICEX and RTS trading floors -- had set its floatation price range at 55-63 rubles ($1.84-$2.10 / 1.34-1.55 euros) per share.

Moscow Exchange sets IPO valuation target of $4.6 bn

Russia's main stock exchange said on Monday that its initial public offering set to be held in Moscow later this month will value the company at $4.0-4.6 billion (2.9-3.4 billion euros). The Moscow Exchange -- formed in a 2011 merger of the MICEX and RTS bourses -- set its price range at 55-61 rubles ($1.84-$2.10 / 1.34-1.54 euros) per share for the February 15 listing. The exchange said in a statement that it hoped to raise more than $500 million from the offering so that it can boost the capitalisation of its clearing subsidiary and improve its IT infrastructure.

Moscow Exchange sets IPO valuation target of $4.6 bn

Russia's main stock exchange said on Monday that its initial public offering set to be held in Moscow later this month will value the company at $4.0-4.6 billion (2.9-3.4 billion euros). The Moscow Exchange -- formed in a 2011 merger of the MICEX and RTS bourses -- set its price range at 55-61 rubles ($1.84-$2.10 / 1.34-1.54 euros) per share for the February 15 offering. The exchange said in a statement that it hoped to raise more than $500 million from the offering so that it can boost the capitalisation of its clearing subsidiary and improve its IT infrastructure.
Syndicate content