Financial Markets in September 2014

In September 2014, the MICEX Index saw an uptrend starting at 1392 and reaching a month high of 1477 by September 16 but then went down to 1430 and stood still until the end of the month. The MICEX capitalization was Rb 22,8 trillion (35.2% of GDP) by September 25. At the same time, the share of traded highly liquid stocks saw a decline in August. The Russian corporate bond market in September kept facing poor market conditions because of mounting external pressure upon the Russian economy and after the Chairman of the Board of AFC Systema was placed under house arrest. Increasing dynamics of the weighted average yield of bond issues remained the key adverse development in the market, whereas the key market indicators (in particular the market volume and index) showed stabilization