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Inflation pressures hit consumer confidence; Moscow stock market falls back – as it happened | Business

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A board with the logo of the Moscow Exchange in downtown Moscow, Russia

Photograph: Yuri Kochetkov/EPA

The Russian stock market fell back today, wiping out much of Thursday’s rally when the exchange reopened for the first time in almost a month.

The Moex share index slid by 3.66% today, with every sector in the red, having gained 4.4% yesterday.

Limited stock trading resumed yesterday with several restrictions to prop up shares, including a ban on short-selling, and on foreign investors selling stocks. That helped to spark a rally yesterday, when oil and commodity stocks jumped.

Analysts have pointed out that these curbs meant Moscow’s market wasn’t operating properly, while the US dubbed it a “Potemkin market opening”.




Russia’s MOEX stock index

Russia’s MOEX…

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