Russia decides to resume trading in shares of 33 companies

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The logo of the Moscow Stock Exchange at its office in Moscow, Russia, March 10, 2020. /Reuters

The logo of the Moscow Stock Exchange at its office in Moscow, Russia, March 10, 2020. /Reuters

The Bank of Russia decided to resume stock trading on Thursday after a nearly month-long shutdown that was aimed at shielding domestic investors from the impact of Western sanctions on its operations in Ukraine.

The Moscow Stock Exchange will resume trading in 33 Russian stocks on Thursday from 9:50 a.m. to 2:00 p.m. local time, and there will be a ban on short selling the securities, according to the central bank. declaration published on Wednesday.

All 33 stocks are included in the country’s benchmark Moscow Exchange Russia Index and have their primary listing in Russia. Among the stocks are some of Russia’s largest companies, such as energy companies Rosneft and Gazprom, state-owned banks Sberbank and VTB.

Trading in the derivatives market with contracts on the Moscow Exchange Russia index and individual stocks included in it will take place from 10 a.m. to 2 p.m. local time, the central bank said on Wednesday.

As the main market for stocks, bonds, derivatives and currencies in Russia, the Moscow Stock Exchange had suspended trading in all markets since February 25.

To avoid a sell-off, Russia said earlier this month it planned to set aside up to 1 trillion rubles ($10 billion) from its sovereign wealth fund to buy Russian stocks at the resumption of trade.

The Bank of Russia began buying government bonds on the open market to limit volatility when the Moscow Stock Exchange reopened trading in federal government bonds on Monday.

(With the contribution of the agencies)

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