Russian Financial Market In May 2015

The MICEX Index averaged 1679 points as of the end of May 2015, down 1.5% compared with that for the same period last year. It is the fall in crude oil prices that was responsible most for this value of the index. The MICEX daily average turnover contracted almost 20% compared with that for Q1 2015, running at Rb 31,3bn. The Russian domestic corporate bond market saw a relatively positive trend despite the adverse external environment,complex situation in the economy and traditional seasonal downturn. Key market indices such as the volume and the index of corporate bond market, the weighted average yield rate (especially in the technological segment), investors’ activity in the primary and secondary markets distinguished themselves by showing posive dynamics. Large bond issuers, despite having faced high fi nancial risks during the recent few months, managed to successfully place their issuances of bonds with longer term until maturity. The situation with issuers’ failure to honor their obligations to bondholders remained complex.