While the world held its breath over the recent mutiny in Russia, the finance and commercial sectors appeared unaffected by the Wagner Insurrection. But while the insurrection eventually came to a bloodless end, some experts weighed in about stocks that would have surged if Vladimir Putin found himself out of power.
During the tense weekend following the uprising, the price of crude oil went up, but it slipped back down to $70 per barrel as trading resumed on Monday, June 26th. Likewise, there was little activity regarding the price of gold and negative activity in the stock market in general.
What Do the Experts Think?
For the most part, financial and commercial experts felt that the mutiny was barely felt in the global economy. However, there would have been significant market movement if things had gone differently.
Ipek Ozkardeskaya, a senior analyst for Swissquote bank, remarked in a recent note that the Wagner Insurrection would, in the long term, be of no consequence to investors unless certain events occur and influence the course of the ongoing Balkan conflict. Otherwise, it is business as usual for much of the world.
This sentiment was echoed by financial intelligence firm CFRA Research’s chief investment strategist Sam Stoval. However, Stovall also warned that rising oil prices would only be one of many repercussions in the event of a Putin ouster. If such had occurred, oil prices would rise, and so would the value of stocks for several defense firms.
For his part, Navellier & Associates’ Louis Navellier remarked that, despite the amicable resolution, the weekend insurrection has led to greater uncertainty regarding the world’s supply of crude oil. Navellier commented on the reduced amount of Russian crude being shipped overseas, which, in his opinion, is a sign that Russia has slowed down the shipment of oil to China and India.