Monday , July 13 2020

Russia stock market hits highest level since 2014


It has taken five years but Russian stocks have sprung back to levels they traded in 2014 before a meltdown sparked by US sanctions, oil-price collapse and a rocky float of the ruble had erased half of their value.
The RTS Index, a dollar-denominated equivalent of the benchmark MOEX Russia Index, rose 0.5 percent on Monday after closing at the highest level since July 2014.
That took the gauge’s gains this year to 24 percent, cementing the world’s second-best performance after Greece and boosting the combined market capitalisation of Russian stocks to $657 billion.

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