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Financial Markets in Russia in May 2013

Author

Listed:
  • Nikita Andrievskiy

    (Gaidar Institute for Economic Policy)

  • Elizaveta Khudko

    (Gaidar Institute for Economic Policy)

Abstract

The growth of the MICEX Index over the course of May, briefly interrupted by its small incursion into negative territory in mid-May, was caused by the rise in oil futures prices and the inflow of foreign portfolio investments. However, it was not sufficient to reverse the downward trend in the stock market’s capitalization. The most noteworthy events in Russia’s stock market were Sberbank’s shares climbing to their historic high of Rb 110.74 per share and VTB’s secondary public offering, which pushed down the prices of its shares. On the whole, the key indices of the Russian domestic corporate bond market, including the market volume and the market index, the weighted average effective yield on corporate bonds, and the activity of the market’s biggest bond emitters in registering their new issues, showed a positive trend. The emitters were punctually fulfilling their obligations to their bond holders.

Suggested Citation

  • Nikita Andrievskiy & Elizaveta Khudko, 2013. "Financial Markets in Russia in May 2013," Russian Economic Development, Gaidar Institute for Economic Policy, issue 6, pages 14-18, June.
    • Handle: RePEc:gai:recdev:140
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    File URL: http://www.iep.ru/files/RePEc/gai/recdev/140Khudko.pdf
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    More about this item

    Keywords

    Financial Markets;

    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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