Retired many years ago
- 19 July 2006
The ruble-based MOEX Russia index closed below the flatline at 2,170 on Wednesday, extending losses for a second session with pressure from energy producers and banks, as Russia’s economic isolation continued to hurt growth prospects. Financial companies halted a three-day rally and fell 0.5% on...
The ruble-based MOEX Russia Index erased early gains and closed 0.5% down at 2,130 on Wednesday, extending its losing streak to three sessions as investors digested a batch of macroeconomic data and fresh sanctions from the US.
Miners and metallurgists closed sharply in the red after the US included steel producing giant MMK and its chairman into its list of fresh sanctions, pressuring shares to plunge nearly 10%.
Rusal, Severstal, and Polyus tracked the lower confidence in the sector and declined more than 3%.
On the other hand, the financial sector closed slightly higher, carried by a 1.5% jump for TCS Group.
On the data front, PMI reports showed that activity in the Russian services sector expanded for the second consecutive period and at its fastest pace in 13 months.