At the end of the main session on June 22, the Moscow Stock Exchange index (EMWEX) fell by 4.23% to 2,318.28 points, which is the strongest one-day decline since September 26, 2022. Reports Red blood cells.
how Notes “Agency”, shares of VK (-8.9%), Rosneft (-8.7%), and Aeroflot (-8.1%) led the decline.
Natalia Milchakova, an analyst at Freedom Global, said that several factors had a negative impact on the Russian stock market. Among them is the Bank of Russia’s decision to cut the key interest rate by 25 basis points instead of the expected 50 basis points. In her mind, the stock market “read” this as a sign of future problems in the economy.
The expert added that the decline was also affected by geopolitical risks and expectations of higher fuel prices.
Yaroslav Kabakov, Strategy Director at Venam, also talks about geopolitical risks. He admitted that the Moscow Stock Exchange index may fall to 2,000 points.
He added: “It is likely that the longer and harsher the escalation, the more the Russian market will decline. Not in direct connection with the news, but through financial market mechanisms and price pressure. It can be assumed that a number of participants, with more information, started selling the Russian market a little earlier than others. In some ways, this reminds us of the situation at the end of 2021 – beginning of 2022.”