Moscow Stock Exchange reopens for first time in nearly a month

The Moscow Stock Exchange partially reopened today after trading in shares was frozen for more than three weeks as authorities tried to avoid a collapse in Russian equity prices.

Shares actually rose after trading resumed, with Moscow’s benchmark index closing up over four per cent.

The index is still down around 30 per cent over the year so far.

Trading resumed in 33 of the 50 shares in the Russian equity benchmark, including Gazprom, Sberbank, Rosneft and VTB Bank, for a shortened trading session running from 9:50am to 2pm Moscow time.

Exchanges were permitted to be settled in either dollars or roubles.

However, foreign investors were locked out from selling shares until 1 April 1. All money must remain in Russia even after traders ditch holdings.

Russian companies have been hobbled by Western sanctions designed to plunge the Russian economy into turmoil.

VTB Bank and Sberbank have been among the lenders booted from the SWIFT international payments system.