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Falling Sberbank shares lead to a sharp sell-off in the Russian stock market




A view shows the logo of Sber (Sberbank) at the Saint Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia, June 5, 2021. REUTERS/Evgenia Novozhenina

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MOSCOW, Jan 14 (Reuters) – Shares of Russia’s biggest lender Sberbank (SBER.MM) fell more than 8% at one point on Friday, prompting a sell-off in the country’s stock market that hit several companies in the first order and also shook bonds and the ruble.

The ruble was volatile after posting its biggest one-day drop in 15 months on Thursday on fears that geopolitical tensions could escalate after talks between Russia and Western allies ended without a breakthrough. Read more

Ukraine has been hit by a cyberattack splashing a warning on government websites to ‘be afraid and expect the worst’, while Russia, which has massed 100,000 troops on its neighbor’s border, has issued photos of more of his forces in motion. Read more

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Shares in state-owned Sberbank, one of the most liquid assets in the Russian market, fell to 249.20 rubles, their lowest level since late November 2020, and were down 5.6% at 1444 GMT.

Russian blue chips fall on January 14 at 14:10 GMT

Shares of Sberbank’s closest rival VTB (VTBR.MM) fell 3.2%, also underperforming the broader MOEX index, which fell 2% to 3,602.6 points after reached its weakest point since April 2021.

Russia’s top tech companies were also hit hard, with Nasdaq-listed internet giant Yandex down 2.7% in Moscow and rival London-listed VK shares (VKCOq.L) down. down 10.4%.

($1 = 76.6650 rubles)

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Reporting by Andrey Ostroukh and Alexander Marrow; Editing by Kirsten Donovan

Our standards: The Thomson Reuters Trust Principles.




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