Bloomberg called the fall of Russian stocks the worst in the world in 2022
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Russian stocks fell much more than others in 2022, the agency reports Bloomberg. The fall began against the background of the military operation in Ukraine and the outflow of investors from Russia.
The Russian stock index RTS, denominated in dollars, fell by 35% this year, the agency writes. This was the worst result among the 92 indices, as well as the third worst result in terms of dollars. The Moscow Exchange index, calculated in rubles, fell by 44%, showing the sharpest drop since 2008. Shares of Lukoil and Gazprom lost 30% and 53% respectively this year, Sberbank – 54%, Bloomberg notes.
At the same time, the agency writes that the Russian economy withstood the sanctions “generally better than expected.” However, Petr Mathis, Senior Currency Analyst at InTouch Capital Markets, believes that “Western sanctions are beginning to affect the Russian economy” and Russian stocks have “gloomy prospects” due to ongoing sanctions. By contrast, senior investment strategist at ITI Capital, Iskander Lutsko, is confident that the new restrictions, including the maximum price for Russian oil, “do not change the rules of the game.”
Recall that from December 5, the European Union (EU), the United States, as well as the G7 countries, Australia and Norway introduced price ceiling for oil supplies from the Russian Federation. The price limit was set at $60 per barrel. In addition, last week the EU agreed the ninth package of anti-Russian sanctions.
Details – in the material “Kommersant” “Banks punished for finance”.
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