Skip to navigationSkip to content

Russian markets had an absolutely huge May

Reuters/Aleksey Nikolskyi/RIA Novosti
Couldn’t have happened to a nicer guy.
By Matt Phillips
Published Last updated This article is more than 2 years old.

Russian markets bounced back sharply in May, even amid ongoing clashes in neighboring Ukraine. Of course, Russia’s unilateral seizure of Crimea and continuing violence by pro-Russian separatists had first driven markets sharply lower earlier this year. May’s recovery in Russia’s Micex stock market index still leaves it down 2.6% so far in 2014.

Other big movers in global markets in May included futures contracts for “feeder cattle.” Prices for still-to-be-fattened calves have surged amid a sharp jump in beef prices—and declining corn prices, making these cows cheaper to bulk up.

Indian stock markets also surged on investor optimism tied to the election of Narendra Modi. And expectations that Chinese policymakers will move to prop up economic growth have helped China-centric indexes—such as Hong Kong’s Hang Seng—log strong gains in May.


📬 Kick off each morning with coffee and the Daily Brief (BYO coffee).

By providing your email, you agree to the Quartz Privacy Policy.