Moscow stock market reopens for some bond trading
After almost a month-long suspension because of the war in Ukraine, the Moscow stock exchange has partially reopened. Only bonds issued by the Russian government can be traded in the re-opening of the market, which will open in phases. The stock market had closed hours after thousands of Russian troops were sent into Ukraine on February 24.
A spokesman for the Moscow Exchange, Andrei Braginsky, said he hoped trading in stocks could begin again soon. The exchange opened at 10:00 GMT but only for Federal Loan Obligations. The yield on these government bonds rose by almost 20% in pre-market trading and settled around 13% after trading started. The invasion of Ukraine and the sanctions imposed by western governments are taking a toll on the Russian economy. There have been concerns about Russia defaulting on its debt due to the sanctions and the ongoing invasion.