The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Capital Markets

Russian markets respond well to post-election moves

Investors search for regional opportunities.

As widely expected, the pro-president Vladimir Putin United Russia party won a landslide victory in the early December parliamentary elections, securing an absolute and constitutional majority with more than two-thirds of the votes. In the wake of the crushing election victory, Putin nominated his first deputy prime minister, Dmitry Medvedev, chairman of Russian gas monopolist Gazprom, as his preferred candidate for the presidential elections scheduled for March 2008.

The announcement put an end to months of speculation about who would be Putin’s handpicked successor and was warmly greeted by the Russian markets given the widely held perception that Medvedev is a more pro-business candidate than former defence minister Ivan Ivanov, who was also seen as a potential successor.

As Euromoney went to press, United Russia was set to confirm Medvedev as its official candidate for the presidency, widely seen as a mere formality following Putin’s personal recommendation.

Although the country’s equity market remains vulnerable to changes in investor sentiment in the wake of the problems in the US sub-prime mortgage market and the associated global credit crunch, the Moscow exchange recorded historical highs almost daily in December on the back of the increased political certainty ahead of the March presidential poll.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree