Bank Of Baku

Russia suspends stocks trade

Russia suspends stocks trade
# 13 November 2008 12:55 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. Russia MICEX exchange halted stocks trade 2 hours after the session opened due to the steepness of the market sell off, and activity would only resume on November 17.
The benchmark MICEX index was down 11 percent to 576 at the time of the suspension,.
Russia’s other exchange, the RTS, also halted stocks trade after the benchmark index slipped 3.46 percent to 618.1 point.
Russia is the world’s second largest oil producer, and government finances have been sharply affected by weaker oil prices, with crude near $55 a barrel Thursday.
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