- A London based Russian ETF has attracted bargain hunters as ETF’s remain one of the last ways to gain exposure to Russian markets
- Shares in BlackRock’s iShares MSCI Russia ADR/GDR ETF surged over 100 per cent during the session overnight, finishing 21 per cent higher
- Some trading platforms in Europe have halted trade in Russian stocks while trading platform, eToro stopped buy orders on the country’s shares
- It comes as conflict escalates in Ukraine with the largest nuclear plant in Europe on fire
A London based Russian ETF has attracted bargain hunters as ETF’s remain one of the last ways to gain exposure to Russian markets.
Overnight, a Russian ETF soared by more than 100 per cent in London despite increasing conflict unfolding between Russia and Ukraine.
Shares in BlackRock’s iShares MSCI Russia ADR/GDR ETF reached a record low on Wednesday before surging over 100 per cent during the session and finishing 21 per cent higher.
However, the ETF is still down more than 80 per cent this year from the crisis.
A VanEck Russian ETF, listed in the US has also seen extreme volatility, tumbling 70 per cent in two weeks.
Some trading platforms in Europe have halted trade in Russian stocks while trading platform, eToro stopped buy orders on the country’s shares.
However, eToro saw demand for Russian exposed stocks increase prior to suspending trade.
The Russian stock exchange has been closed for four days in order to protect itself from the financial volatility induced by massive sanctions from countries around the world.
Meanwhile conflict has escalated in Ukraine as the largest nuclear plant in Europe caught on fire.
The plant accounts for 25 per cent of the country’s power generation
Ukrainian authorities have reported Russian troops are aiming to seize the plant after sending more tanks into the city of Enerhodar.