The Russian stock market resumed limited trading Thursday under heavy restrictions almost one month after prices plunged and the market was shut down.
Trading of a limited number of stocks including energy giants Gazprom and Rosneft took place under curbs that are meant to prevent a repeat of the massive selloff that took place Feb. 24 in anticipation of Western economic sanctions. Foreigners cannot sell and traders are barred from short selling, or betting prices will fall.
The benchmark MOEX index gained 8% in the first minutes of trading.
Trading will be allowed in 33 of the 50 companies that are part of the country’s benchmark MOEX index, including air carrier Aeroflot, state-owned gas producer Gazprom and the oil company Rosneft, according to a central bank announcement.
On March 3, the London Stock Exchange suspended trading in shares of 27 companies with links to Russia, including some of the biggest in energy and finance.
