An adviser to the Kremlin is on the wires saying the latest sanctions are “of little significance”. He said they will probably have some effect on the economy but not likely to have a serious impact.
The MICEX index gained 1.5% today as the sanctions weren’t as harsh as feared. The index is down 13.6% year-to-date but it’s been essentially flat since the fall at the start of March. A wave of downgrades of Russian companies, including Rosneft, is hitting following the sanctions.
MICEX
The ruble is also roughly flat since the start of March.
Other European indexes closed near the middle of the daily range:
- UK FTSE +0.22%
- German DAX +0.5%
- French CAC +0.3%
- Spain IBEX – flat
- Italy MIB +0.3%
