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Russian stocks keep falling in London, Gazprom’s cap down $15 billion

March 03, 13:47 UTC+3 MOSCOW
Russian stock exchange indices dropped at Monday’s opening, despite the CBR’s decision to temporarily up the key rate by 1.5 percentage points to 7% per annum
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A broker (archive)

A broker (archive)

© ITAR-TASS/Stanislav Krasilnikov

MOSCOW, March 03. /ITAR-TASS/. Russian corporate stock traded on the London Stock Exchange continued falling following the collapse in Moscow. Sberbank’s stocks opened 13.6% down at $8.91 per receipt. Stocks of VTB are sliding 14.22% to $1.97 per receipt.

Meanwhile, stocks of Russian gas monopoly Gazprom lost 17.68% ($6.34 per receipt), and the company’s capitalization dropped $15 billion. Oil giant Rosneft’s stocks slipped 8% to $6.21 per receipt.

Russian stock exchange indices dropped at Monday’s opening, despite the CBR’s decision to temporarily up the key rate by 1.5 percentage points to 7% per annum.

The RTS Index sank 10.74% to 1,131.15 points. That of MICEX collapsed 9.52% to 1,313 points.

Aggregate capitalization of companies comprising the MICEX Index calculation base was about 18.368 trillion rubles ($504.77 billion) on Friday, said chief strategist of BCS financial group Maxim Shein. Accordingly, the market loss has reached 1.8 trillion rubles ($49.46 billion).

Market uncertainty takes place against the background of Russia’s weekend announcement that it could use its armed forces in Ukraine to protect Russian citizens and military personnel in the Crimea region.

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