Russian stock market falls gain after Putin's mobilization and nuke threat speech

21 September, 02:46 PM
Russian market suffers sharp drop for second day in a row (

Russian market suffers sharp drop for second day in a row (

The Russian stock market slumped again after Russian dictator VladimirPutin made a speech on Sept. 21 in which he threatened to use nuclear weapons and announced a partial mobilization, Russian news agency Interfax has reported.

The Moscow Exchange Index fell to 2052.71 points (-7.4%) a minute after the start of trading on Sept. 21. The RTS index fell to 1042.58 points (-9.7%); the prices of the majority of blue chips on the Moscow Exchange fell by around 15%.

The shares of Russian companies OZON (-15%), TCS Group (-14.8%), Polymetal (-14.4%), Yandex (-12.5%), Surgutneftegaz (-10.2%), NOVATEK (-10.2%), Gazprom Neft (-8.8%) suffered the biggest falls in price.

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By 11.00 a.m. Kyiv time, the Moscow Exchange index had recovered to the level of 2130 points.

Earlier, on Sept. 20, the Moscow Exchange experienced a 10% drop on the news of the holding of sham referendums on “joining” Russia in some Russian-occupied territories of Ukraine, and on amendments being made to the Criminal Code of Russia related to mobilization and martial law.

According to the BBC, falls of the stock market for two days in a row were last seen in February, after the start of Russia’s full-scale invasion of Ukraine.

Prior to this, the Moscow Exchange index had not fallen below 2300 points since the end of August, and below 2200 points since the end of 2017.

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