How the US Congress helped Sberbank of Russia

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The largest Russian companies and financial institutions continue to struggle for leadership in terms of market capitalization. And in this they sometimes get help from there, from where they did not wait at all.


As it became known to the Russian media, during trading on the Moscow Exchange, for the first time since the beginning of August 2018, Rosneft had to share its leadership with Sberbank for some time, which caught up with it in terms of market capitalization.

Around noon, the data on the level of capitalization of the oil company and financial institution were leveled up and for some time held above 4,54 trillion rubles. However, the beginning negative correction of the shares of Sberbank again threw it a position lower.

According to analysts, in this situation, a significant reduction in the price of Rosneft’s stocks played in favor of Sberbank, which lost almost 12% in value over the past five trading days amid a sharp drop in world oil prices.

No less important factor was the support of buyers of Sberbank shares, which appeared after reports that the US Congress, in an effort to resolve internal issues before Christmas, would not have time to adopt a new package of anti-Russian sanctions before the end of this year.

This allowed Sberbank to close the gap with Rosneft in terms of market capitalization for a short time.
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