Latest news with #MOEX
Newsweek
2 days ago
- Business
- Newsweek
Russia Sees $1 Billion Wiped off Stock Market After Trump's Putin Comments
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Russia's stock market took a sharp dive following President Donald Trump's jibe that Vladimir Putin was "crazy" and threatening new sanctions. Vasily Astrov, an expert on Russia's economy, told Newsweek Tuesday that Trump makes contradictory comments on Russia almost daily, which causes stock market volatility. Trump issued the insult in a social media post—in which he also scolded Ukrainian President Volodymyr Zelensky—after Russia launched a massive aerial attack on Ukraine. The Russian financial services outlet Finam said Monday, the Moscow Exchange (MOEX) was "gripped by negative sentiment" as it fell over 2 percent, which led to market capitalization falling by a reported 100 billion rubles ($1.1 billion). Newsweek has contacted the Kremlin for comment. A stock image of a screen showing benchmark ruble-denominated MOEX index numbers in Moscow on January 10, 2023. A stock image of a screen showing benchmark ruble-denominated MOEX index numbers in Moscow on January 10, It Matters Trump's rhetoric on the war in Ukraine started by Putin is continuously shifting, and his latest comments followed a warning that the U.S. leader would be stepping back from peace talks if there is no progress. Kyiv, its allies and experts see U.S. sanctions on Russia, particularly on its fossil fuels, as key to pressuring Putin to the table and Trump's post threatening such measures will add to market jitters in the country's war economy. What To Know Trump took to Truth Social after Russia launched a massive attack on Ukraine over the weekend, with Moscow firing drones and missiles at 30 cities and villages and killing at least 12 people, including three children. Trump's post on Sunday boasted of his good relationship with Putin but said that the Russian president "has gone absolutely CRAZY" and was "needlessly killing" soldiers and civilians. Trump said that if Putin tries to take all of Ukraine "it will lead to the downfall of Russia," in the post which also took aim at Zelensky for "talking the way he does." The Kremlin responded by saying that the outburst was down to "emotional overstrain." Russia's stock market had fallen by 2.06 percent by 2.30 p.m. local time Monday, dropping to 2,711 points from its opening level of 2,735. By close of trading, it went down to 2,699, although by mid-morning Tuesday, there was a slight rise to 2,718. Sovcomflot—Russia's largest shipping company—had the biggest drop of more than 5 percent, while shares in energy and metals giant En+ Group, state-run Gazprom and tech firm VK Group also fell. Financial services outlet Finam said one of the main reasons for the drop was the geopolitical tensions following Trump's comments, which suggest that he is still considering tougher sanctions against Russia. The outlet also said the economic situation in Russia is "alarming" and that the reporting season for the first quarter has shown that even stable businesses are going through difficult times, affected by western sanctions, and the tight monetary policy of Russia's Central Bank, whose key interest rate is at 21 percent. Adding to pressure are reports that the EU is preparing to disconnect another 20 Russian banks from the SWIFT international payments system. Astrov, senior economist at The Vienna Institute for International Economic Studies, said that the slump in the stock market is "definitely the result of Trump's comments" rather than the prospect of EU action. What People Are Saying U.S. President Donald Trump on Truth Social: "I've always had a very good relationship with Vladimir Putin of Russia, but something has happened to him. He has gone absolutely CRAZY!" Vasily Astrov of the Vienna Institute for International Economic Studies said of the stock market slump: "This is definitely the result of Trump's comments, not EU sanctions…EU sanctions…had already been priced in—whereas Trump's statements on Russia contradict each other almost on a daily basis and result in Russia's stock market volatility." Financial services outlet Finam: "The Russian stock market is gripped by negative sentiment." What Happens Next The war Putin started is tied to Russia's currency and stock markets which took a hit in April following the collapse of scheduled ceasefire negotiations over the war in Ukraine. There is anticipation over whether Trump's warning will lead to sanctions that might add to further turbulence in Russia's economy.
Saba Yemen
16-05-2025
- Business
- Saba Yemen
Moscow stock exchange indexes rise as investors follow Istanbul negotiations
Moscow – Saba: The Moscow Stock Exchange indexes rose in trading on Friday as investors followed the progress of the negotiations in Istanbul regarding Ukraine. By 1:56 PM Moscow time, the ruble-denominated MOEX index rose 0.1 percent to 2,841.01 points, while the dollar-denominated RTS index rose 0.05 percent to 1,114.28 points. In the currency market, the Chinese yuan traded against the Russian currency at 11.174 rubles, up 0.5 percent from the previous closing price, according to Russia Today. The dollar traded on the Forex currency market at 80.91 rubles, and the euro at 90.352 rubles. Expert Bogdan Zvarish believes that "investors are currently taking a wait-and-see stance until the first news emerges regarding the negotiations in Istanbul. In today's session, investors will focus primarily on geopolitical news." He said, "The Moscow Stock Exchange index will begin to recover and attempt to reach the 2,900-point range. We expect the Russian market to trade between 2,820 and 2,920 points today." Whatsapp Telegram Email Print more of (Economy)
Saba Yemen
05-05-2025
- Business
- Saba Yemen
Moscow exchange drops below 2,800 points
Moscow - Saba: The Moscow Exchange indices declined in trading on Monday, with its benchmark MOEX index falling below the 2,800-point mark for the first time since April 16. By 16:03 Moscow time, the ruble-denominated MOEX index had dropped 2.21% to 2,774.14 points, marking its first dip below 2,800 points since April 16, 2025. Meanwhile, the dollar-denominated RTS index fell 2.2% to 1,072.64 points, according to trading data. The decline in the Moscow Exchange coincides with falling oil prices in global markets, with Brent crude hitting its lowest level since April 9. Whatsapp Telegram Email Print
Asharq Al-Awsat
19-03-2025
- Business
- Asharq Al-Awsat
Russian Rouble Weakens After Trump-Putin Call
The Russian rouble interrupted its rally and weakened against both the US dollar and China's yuan on Wednesday following a conversation between US President Donald Trump and Russian President Vladimir Putin that focused on the war in Ukraine. In the telephone call, Putin agreed to stop attacking Ukrainian energy facilities temporarily but declined to endorse a full 30-day ceasefire that Trump had hoped would be the first step toward a permanent peace deal. By 0840 GMT, the rouble was down 1.3% at 82.80 against the dollar in the over-the-counter market. Against the Chinese yuan, the rouble was down 1.2% at 11.36 in trade on the Moscow Stock Exchange (MOEX). The Russian currency hit its strongest levels against both the dollar and the yuan since June 2024 this week. It is up 27% against the dollar so far this year on expectations of easing tensions between Russia and the United States. Russia's Deputy Prime Minister Alexander Novak said on Tuesday that a return of foreign investors to the Russian market and resulting capital inflows played a role in the rouble rally. "We are also observing an inflow of foreign capital into the domestic market, taking into account the geopolitical situation," Novak was quoted in the Russian media as saying. The stronger rouble is helping the central bank fight inflation, its main headache. However, it is also dealing a blow to exporting companies as well as state budget revenues, which depend heavily on oil and gas exports that are traded in dollars. Denis Popov from PSB bank noted that Novak's statement was the first official confirmation of capital inflows taking place as international investors begin to eye Russian assets again, creating the potential for further strengthening of the rouble. "Considering that the end of March should see an increase in currency sales by exporters, the risks of further strengthening of the rouble are very high," Popov said.
Zawya
19-03-2025
- Business
- Zawya
Russian rouble weakens after Trump-Putin call
The Russian rouble interrupted its rally and weakened against both the U.S. dollar and China's yuan on Wednesday following a conversation between U.S. President Donald Trump and Russian President Vladimir Putin that focused on the war in Ukraine. In the telephone call, Putin agreed to stop attacking Ukrainian energy facilities temporarily but declined to endorse a full 30-day ceasefire that Trump had hoped would be the first step toward a permanent peace deal. By 0840 GMT, the rouble was down 1.3% at 82.80 against the dollar in the over-the-counter market. Against the Chinese yuan, the rouble was down 1.2% at 11.36 in trade on the Moscow Stock Exchange (MOEX). The Russian currency hit its strongest levels against both the dollar and the yuan since June 2024 this week. It is up 27% against the dollar so far this year on expectations of easing tensions between Russia and the United States. Russia's Deputy Prime Minister Alexander Novak said on Tuesday that a return of foreign investors to the Russian market and resulting capital inflows played a role in the rouble rally. "We are also observing an inflow of foreign capital into the domestic market, taking into account the geopolitical situation," Novak was quoted in the Russian media as saying. The stronger rouble is helping the central bank fight inflation, its main headache. However, it is also dealing a blow to exporting companies as well as state budget revenues, which depend heavily on oil and gas exports that are traded in dollars. Denis Popov from PSB bank noted that Novak's statement was the first official confirmation of capital inflows taking place as international investors begin to eye Russian assets again, creating the potential for further strengthening of the rouble. "Considering that the end of March should see an increase in currency sales by exporters, the risks of further strengthening of the rouble are very high," Popov said. (Reporting by Gleb Bryanski; Editing by Joe Bavier)
