The trading session on the Russian stock market is going on amid a significant drop in stocks of oil companies. LUKoil stocks plummeted 5.6 percent over the first hour and a half of trade on the RTS. Surgutneftegaz dropped 4 percent and Sibneft fell 3.6 percent.
This plummet of oil stocks was an unpleasant surprise for investors, many of whom thought that the stock market should have met the New Year with a rise. However, other stocks are following the falling tendency of oil stocks.
As of 1 p.m., the RTS index dropped 2.7 percent. Analysts also reported significant sales of LUKoil stocks by western investors.
In a weary world of endless US military interventions, sanctions, trade tariffs and chaos, let’s pause and take stock of the shining house on the hill