Overview
- The benchmark MOEX briefly bottomed at 2,485 points before recovering to about 2,513 during Tuesday trading, marking the lowest intraday level since last October.
- The index has lost roughly 12% over a 14-week slide that analysts say has exceeded the length of its 2008 losing streak.
- Market participants cite low stock demand driven by stalled peace talks over Ukraine, a recent dip in oil prices, a strong ruble that hurts exporters, and a widening fiscal deficit.
- Analysts say any sustained market recovery likely depends on the Central Bank gradually cutting its key interest rate and on progress toward resolving regional conflicts.
- The Moscow Times was designated an 'undesirable' organization by Russia's Prosecutor General's Office, a move that criminalizes its work and raises the risk of reduced independent reporting on economic and political developments.