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Russian Financial Markets In December 2015

Author

Listed:
  • E. Gorbatikov

    (Gaidar Institute for Economic Policy)

  • Elizaveta Khudko

    (Gaidar Institute for Economic Policy)

Abstract

December 2015 saw crude oil prices plunge, hitting 2008 lows. This pushed down the MICEX Index (5.7%) and all sector indices (except transport and chemical industries) and Russian blue-chip stocks (except VTB). MICEX average daily turnover and capitalization was down 7.8% and 7.7%, respectively, compared with the previous period under review. Norilsk Nickel removed LUKOIL from the list of top 3 stocks of MICEX daiy turnover. Investors continued to withdraw from Russia-focused mutual funds. The Russian corporate bond market slumped amid adverse external conditions, not leading to a seasonal market rally. Nevertheless, the key indicators such as corporate bond market volume and index saw moderately positive dynamics; investors and issuers activity remained at high level. An increase, small though it was, in the weighted average yield rate of bond issuances and worsening of the problem with Russian bonds that default were the key adverse factors.

Suggested Citation

  • E. Gorbatikov & Elizaveta Khudko, 2016. "Russian Financial Markets In December 2015," Russian Economic Development, Gaidar Institute for Economic Policy, issue 1, pages 10-16, January.
    • Handle: RePEc:gai:recdev:664
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    More about this item

    Keywords

    Financial Markets; Russian Economy;

    JEL classification:

    • G1 - Financial Economics - - General Financial Markets
    • G3 - Financial Economics - - Corporate Finance and Governance
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets

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