Russia’s roaring stock market rally

Russian stocks have defied Western sanctions to gain 25% since March.

Don't take stock market advice from White House press secretary Jay Carney. In mid-March he told investors to avoid Russian equities unless they were tempted to go short. Since then, Russia's MICEX index has gained 25%. It's largely a case of a crisis not proving as bad as first feared.

The market's main worry was that sanctions against Russia, following its annexation of Crimea, could seriously dent its economy. But measures so far have been "toothless", says Joseph Dayan of BCS Financial Group. And this looks unlikely to change in the near future.

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Andrew Van Sickle
Editor, MoneyWeek

Andrew is the editor of MoneyWeek magazine. He grew up in Vienna and studied at the University of St Andrews, where he gained a first-class MA in geography & international relations.

After graduating he began to contribute to the foreign page of The Week and soon afterwards joined MoneyWeek at its inception in October 2000. He helped Merryn Somerset Webb establish it as Britain’s best-selling financial magazine, contributing to every section of the publication and specialising in macroeconomics and stockmarkets, before going part-time.

His freelance projects have included a 2009 relaunch of The Pharma Letter, where he covered corporate news and political developments in the German pharmaceuticals market for two years, and a multiyear stint as deputy editor of the Barclays account at Redwood, a marketing agency.

Andrew has been editing MoneyWeek since 2018, and continues to specialise in investment and news in German-speaking countries owing to his fluent command of the language.