Abstract

In August 2013, the MICEX index saw a monthly fall of 2.4% after Sberbank and VTB encountered some downtrend in the stock market. Furthermore, stock market capitalization contracted by 2.2% to Rb 23.41 trillion, or 37.4% of GDP. The domestic corporate bond market was governed by fairly optimistic sentiments, irrespective of adverse trend concerning macroeconomic indicators and forecasts for Russia. The key market indicators were driven by an uptrend, contrary to expectations of a seasonal downtrend.

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