Stock market quotes, forex, financial news, forex tools – money-investing.com

RusAL shares collapsed by almost a third due to the expectations of next sanctions

 Breaking News
  • US Ministry of Energy predicts reduction of oil prices The US Ministry of Energy has published a monthly report, which turned out to be discouraging. It is expected that in the last quarter of this year the price for...
  • 28 Chinese companies are blacklisted by the US Everyone knows that just in few days two powerful states China and the USA – are starting the next round of the negotiations. Official Beijing has announced that it is...
  • Startup WeWork again in spotlight We have been writing about the startup WeWork, which was forced to postpone the initial public offering. They earn by renting commercial space for a long time in order to...
  • Massive cuts in HSBC HSBC Holdings Plc, the largest bank in Europe and one of the most significant and serious players in the global financial market, has announced the launch of a cost-optimization program....
  • Oil quotes still wait for negotiations Today, at 8.15 a.m. Moscow time, futures for Brent crude oil were trading in London for $ 58.31 per barrel. This is only 0.1% below the closing price of the...
RusAL shares collapsed by almost a third due to the expectations of next sanctions
April 16
09:00 2018

It was a blue Monday, especially for the Russian company RusAl. For an incomplete trading day, the shares of the aluminum giant collapsed by more than 20%. We recall that since the beginning of the month, the overall decline in quotations of securities has amounted to 64%. The market expectations of a new portion of sanctions against the Russian aluminum tycoon Oleg Deripaska from the US Treasury have contributed the negative dynamics.

At the moment, the company’s securities are being traded at 1.58 HKD (Hong Kong dollar) on the Hong Kong Stock Exchange. Thus, in relative figures, the decline since the start of the trading session has totaled 22.5%. An interesting fact is that a week earlier the company’s securities were being traded at 4.65 HKD per share. It happened on the verge of adding RusAl to the “black list” of the US Treasury Department.

Last week, there was an increase in the price of aluminum by 12%. The reason is a decrease in the supply of this rare earth metal on the market by RusAl. We recall that the company delivers about 6% of the world’s aluminum to the market.

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment