Developers’ shares are the main outsiders on the Russian stock market. The Moscow Exchange index of construction companies, which includes them, has been falling for the third month in a row, according to the Central Bank’s review of financial market risks.
In November, developer shares lost almost 13%. What’s happening to them?
Construction companies were the main outsiders on the stock market in November, according to the latest review of financial market risks by the Bank of Russia. According to the regulator, the sectoral index of construction companies on the Moscow Exchange lost 12.9% in a month – this is slightly better than in October, when the indicator fell by 17.9%. In general, the index of construction companies has been falling faster than all others for three months in a row. According to the Moscow Exchange, the sectoral real estate index has lost more than 45.8% since the beginning of the year. For comparison, the main indicator of the stock market – the Moscow Exchange index has fallen by 18% since the beginning of the year.
The stock exchange presents shares of four public developers – PIK, LSR, Samolet and Etalon. Samolet, PIK and LSR are among the top 5 Russian developers in terms of current construction volumes, and Etalon ranks 15th in the rating.