Thirty-three shares may be traded.
Trading shares on the Moscow Stock Exchange will continue on a limited basis on Thursday after a suspension of almost a month.
The Central Bank of Russia states on its website that thirty-three shares of the Moex index will be traded.
Trading hours are limited to just over four hours. In addition, short selling of shares is prohibited.
The shares may be traded mainly in the shares of large Russian companies, including the shares of the energy giants Gazprom and Rosnef, as well as the shares of the large banks Sberbank and VTB.
The shares traded are included in the Moex index. There are a total of 50 shares in the index.
The shares were last admitted to trading on the Moscow Stock Exchange on Friday, February 25, the day after Russia invaded Ukraine. At that time, the stock exchange’s ruble-denominated Moex index rose 20 percent after collapsing 33 percent the previous day.
Authorities closed the exchange, except for foreign exchange trading, after the West imposed severe economic sanctions on Russia at the end of February.
Russian the central bank has tried to gradually normalize the country’s capital markets.
On Monday this week, a big step was taken when trading in Russian government bonds was allowed to a limited extent. On Wednesday, permission was granted for the short sale of government bonds.
Nordea’s asset management investment strategy Hertta Alava estimates on Tuesday that HS could see very large fluctuations in share prices on the Moscow Stock Exchange on the first day of trading. The stock market may fall sharply, but then even rise.
To prevent stocks from plunging into a free fall, Russian authorities have reported that The Wall Street Journal (WSJ) by in practice prevented foreign investors from selling their shares.
According to official regulations published in February, Russian Stockbrokers may not allow their foreign clients to sell shares.
The Russian government has also ordered the country’s welfare fund to buy shares, which could ease the price package.
According to WSJ sources, the Russian authorities have also planned separate markets for foreign and local investors. This plan is still at the level of discussion.
Moscow the stock exchange was last open on Friday, February 25th. At that time, for example, the Moex index rose sharply after the previous day’s collapse.
On Thursday, February 24, more than a third of the value of the Moex index melted. According to Refinitiv, the value of the index was more than 4,061 billion rubles a day at that time. At the current exchange rate of the euro, it corresponds to about EUR 35.7 billion.
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