The Russian index, MICEX, rose to an all-time high—helped by investors turning their attention to how the rebound in crude oil prices can be best captured.
According to Markit, Russia’s manufacturing PMI (purchasing managers’ index) declined by 1.4 points and came in at 48.7 in December, as compared to 50.1 in November 2015.
The Turkish lira fell against the US dollar on December 22. It fell after an unexpected move by the Turkish central bank to keep interest rates steady at 7.5%.
The ruble fell against the US dollar on December 11, 2015, after a free fall in crude prices globally. Higher inflation levels have been hurting the economy.
Russia accounts for about 1.8% of the world’s GDP, and manufacturing activity accounts for ~15% of Russia’s GDP. Russia’s manufacturing PMI declined slightly to 50.1 in November, compared to 50.2 in October.
Mobile TeleSystems is a telecommunications group located in Russia, as well as Central and Eastern Europe. It offers wireless internet access to customers.
The energy sector can keep both Russian ETFs down until crude oil prices do not reverse their slide. A fall in energy sector stocks would impact both Russian ETFs.
On August 20, Kazakhstan prime minister Karim Massimov announced that the country is moving into a free-float regime, with its central bank monetary policy aiming to target inflation.
In its recent update, the International Monetary Fund’s economic growth projections for the Eurozone, including Lithuania, are unchanged at 1.5% for 2015.
Why the Russian crisis could escalate: Volatility spiked for the Russian stock market after February 22, 2014, when protesters ousted Ukrainian president Viktor Yanukovych and seized control of Kiev. This situation quickly worsened after March 18, 2014, when Putin annexed Crimea, sending the ruble from 34:1 to the dollar in June to 40:1 this week. […]
