The Russian stock market continues to fall for the 17th consecutive week and has reached its lowest level in over three years.
During Monday’s transactions, the Moscow Stock Exchange index dropped to 2,117.5 points, the lowest level since December 2022. Since the beginning of the week, the index has lost 3.4%, since the beginning of the summer – 16%, and compared to the peak reached in May 2024 – about 40%.
“Expectations on the Russian market are worsening with each day,” asserts Finam analyst, Dmitri Lozovoi.
According to him, instead of a peace agreement in Ukraine, a war escalation is taking place, and drone attacks on Russian refineries are fueling inflation. Under these circumstances, the Central Bank could respond with a new key interest rate hike.
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