Russian shares sank sharply on Wednesday before trading was halted.
Russia’s RTS stock exchange index fell 12.5 per cent in the first three hours of the session before trading was suspended for the rest of the day. Trading was halted on the more liquid Micex stock exchange on Tuesday following a steep slide and it remained closed on Wednesday.
The price of insuring Russian debt soared as credit market sentiment turned dramatically against Russia and some of its leading companies. The cost of protecting Russia’s debt against default leapt by 172 bp to 786.2bp on Wednesday, meaning it now costs $172,000 annually to insure $10 million of the country’s bonds over five years.
Here's a possibility, after new year, say FEB or MAR crude will start moving up in price. Trying to figure out whether it would be better to go into OIH or buy Russian stocks on LSE. OIH play could be if the dollar doesn't slide, buying up russian companies on LSE if dollar starts to slide as it's a double play - stocks and currency.
ReplyDeleteThe dollar is already starting to resume its slide.
ReplyDeleteI vote Russian stocks on LSE. Is their an ETF?