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Sector
Financials
Size
Large Cap
Market Cap £3.74bn
Enterprise Value £3.99bn
Revenue £1.52bn
Position in Universe 191st / 1816

Retail investors flock to Moscow Exchange in March

Mon 6th April, 2020 5:42pm
MOSCOW, April 6 (Reuters) - Retail investors flocked to
Moscow's stock exchange in March opening twice as many accounts
as the monthly average in 2019 and ploughing more than half a
billion dollars into shares during a volatile month's trading.
    The Moscow Exchange (MOEX)  .IMOEX  slumped to a one-year
low on March 19 as global investors fled riskier assets due to
uncertainty over the coronavirus outbreak and oil prices
collapsed as demand worldwide dried up. Since then, the main
share index has pared half its losses since mid-February.
    MOEX did not say why there had been a jump in retail
activity in March though it pointed out that many Russians were
now staying at home because of the coronavirus pandemic.
    "During the period of self-isolation, Russian financial
markets have been operating continuously," said Boris Blokhin,
stock department director at the exchange, adding that having
all services operating digitally and remotely had made this
possible.
    The exchange said the number of retail investor accounts
rose 320,000 in March compared with a monthly average increase
of 159,000 last year while the number who made a transaction
came to 606,700, well above the 2019 monthly average of 244,900.
    According to the MOEX's monthly report, private investors
ploughed 43.7 billion roubles ($573 million) into Russian stocks
on the platform in March, twice as much as the maximum volume of
purchases for any month in 2019. 
    MOEX said the number of individuals with a brokerage account
on the exchange had reached 4.57 million by the start of April.
    Russia's largest lender Sberbank  SBER.MM  led the way in
the first quarter of 2020 opening 857,000 new stock exchange
accounts for retail investors, VTB Bank  VTBR.MM  opened 336,000
and digital bank Tinkoff, of TCS Group  TCSq.L , had 257,000.
    The most popular shares in March were Gazprom  GAZP.MM ,
which was included in 23.6% of portfolios, and Sberbank's common
and preferred shares at 20.1% and 8% respectively.  
    The Moscow Exchange had previously said total turnover in
March for all types of investor and security on its platform hit
a record high.
   ($1 = 76.2404 roubles)

 (Reporting by Elena Fabrichnaya; Writing by Alexander Marrow;
Editing by Katya Golubkova and David Clarke)
 ((alexander.marrow@thomsonreuters.com; +7 495 775 1242;))
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