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Despite sanctions, Moscow stocks boom as exchange reopens

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Russian stocks rose sharply as the Moscow exchange reopened Thursday with limited trading after suspending operations on February 28. The ruble-based MOEX benchmark shot up almost 11% – but the USD-nominated RTS Index was down slightly.

Trading resumed for 33 Russian entities such as Sberbank, Gazprom and Aeroflot, but short-selling for foreign investors has been banned until April 1.

Key oil, aluminum and mineral companies shot up by double figures: Rosneft (20%), Lukoil (16%), Rusal (14%) and Norilsk Nickel (22%).

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