Russian SPB exchange to resume full trading of foreign stocks

Aug 8 (Reuters) – Russia’s SPB stock exchange will restart full trading of hundreds of foreign stocks on Wednesday, the exchange said, broadening Russians’ access to buying and selling international stocks.

Russia’s central bank moved in May to restrict trading in some foreign stocks following sweeping Western sanctions after Moscow sent tens of thousands of troops to Ukraine on Feb. 24.

Foreign investors have also not had access to the Russian stock market since February 25 under countermeasures introduced by Moscow aimed at preventing a sharp drop in share prices.

The SPB, Russia’s second-largest stock exchange specializing in foreign stocks, has pushed back against central bank calls on brokers to block retail investors from accessing foreign stocks.

Beginning at 10:00 a.m. Moscow time (0700 GMT) on August 10, investors will be able to trade shares of around 200 foreign companies, including Apple and Tesla, popular stock picks among Russian retail investors, the exchange said in a statement. .

Previously, trading was limited to the afternoon session.

Trading in an additional 1,500 foreign stocks will begin later in the day at 3:30 p.m. (1230 GMT), he added.

At the end of March, Russians held about $14 billion in US-listed stocks, Russia’s central bank said last week. He estimates that sanctions against Russia’s National Repository for Settlements have frozen access to around 320 billion rubles of foreign stocks. (Reporting by Reuters; Editing by Emelia Sithole-Matarise)

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