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发帖数: 1735 | 1 ￡34bn wiped off shares listed in Moscow as investors respond to Russia's
intervention in Crimea
Share 416
Russia's financial system punished Vladimir Putin far more swiftly than
western diplomacy on Monday, as the Moscow stock market suffered one of its
biggest one-day falls in recent years and the rouble tumbled sharply in a
first nervous reaction to the Kremlin's gambit in Crimea.
Some ￡34bn was wiped off the value of companies on the Moscow stock
exchange on Monday and the central bank burned through an estimated ￡10bn
of its reserves propping up its currency as investors took fright at the
most serious standoff between Russia and Ukraine since the fall of the
Soviet Union.
The bank was also forced to raise its main interest rate from 5.5% to 7% –
the largest hike since financial crisis ruined Russia in 1998.
Neil Shearing, chief emerging markets economist at Capital Economics, said:
"It goes without saying that the extent to which [central bank moves are]
successful will depend largely on political rather than economic
developments."
Though some traders said the rout might be a momentary blip, the possibility
of an economic and financial crisis may be more irksome to Putin than
threats from the west. The last two Kremlin leaders (not including Putin's
interim, Dmitry Medvedev) – Mikhail Gorbachev and Boris Yeltsin – were
politically emasculated by swingeing economic crises that effectively
bankrupted the state.
Gazprom, the state-controlled energy producer with pipes running through
Ukraine and millions of hard-currency European clients at the other end, was
hit hard and lost more than 12% of its value in just a few hours of trading
. State oil company Rosneft fell almost six percent. Global stock markets
also suffered from spreading jitters, with the FTSE down 1.5% and the Dow
Jones Industrial Average off more than 1 percent in morning trading.
The Russian deputy economy minister, Andrei Klepach, said market "hysteria"
would subside but strains with Brussels and Washington – which has
threatened visa bans, asset freezes and trade curbs – would continue to
weigh on the economy.
"The EU and APEC countries, which could in the worst-case scenario support
an embargo, accounted for more than 70% of the total Russian export in 2013,
or $378bn," said Investcafe analyst Timur Nigmatullin.
"If exports are sharply reduced, within a few months it would send Russia
into a recession similar to the one it saw during the 2008-09 economic
crisis," Nigmatullin added.
But others cautioned that Russia's adversaries in the west do not hold
strong cards. "Germany and Italy are very dependent on the Russian market
and Russian energy," said Eric Kraus, an independent portfolio manager
focusing on Russia.
"To get into a trade war at this time with Russia for these countries would
be insane, it would be suicidal. If they were to impose sanctions Russia
would turn off the gas, which would be a huge problem."
Investors are watching Gazprom particularly closely, as it supplies millions
of European homes via Ukraine. Europe relies on the company for as much as
a quarter of its gas – but Russia equally is deeply dependent on European
customers for its gas income.
Gazprom's finance chief warned Ukraine that it may hike gas prices from next
month, accusing Kiev of a patchy payments record, but said gas pipelines
were flowing as normal at the moment. | h***i
发帖数: 89031 | 2 乌克兰议会的人指望你出340亿美元呢
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【在 r******r 的大作中提到】
: ￡34bn wiped off shares listed in Moscow as investors respond to Russia's
: intervention in Crimea
: Share 416
: Russia's financial system punished Vladimir Putin far more swiftly than
: western diplomacy on Monday, as the Moscow stock market suffered one of its
: biggest one-day falls in recent years and the rouble tumbled sharply in a
: first nervous reaction to the Kremlin's gambit in Crimea.
: Some ￡34bn was wiped off the value of companies on the Moscow stock
: exchange on Monday and the central bank burned through an estimated ￡10bn
: of its reserves propping up its currency as investors took fright at the
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