A Russian trader speaks on two phones by computer screens during the trading session.
Photo: Reuters
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Decline on U.S., Japan’s Markets Drives Dn Russia’s Quotes
The quotes of Russia’s blue chips shed in the wake of decline on the U.S., Japan’s markets.
Gazprom dropped 3.6 percent on MICEX, Surgutneftegaz went down 3.5 percent, LUKOIL, Sberbank and GMK Norilsk Nickel sank 3.2 percent, driving down the MICEX index by 3.2 percent to 1,859 as of 1:00 p.m., MSK. Gazprom lost 4 percent on RTS, LUKOIL shed 3.8 percent and GMK suffered the loss of 3.4 percent. The RTS composite went down 2.7 percent to 2,267.
The analysts blame this unhealthy trend on Russia’s stock market on the negative performance of global markets. The figures recently released in the United States confirmed the recession apprehension of experts. Material reduction in crude oil prices has fueled the decline as well.
www.kommersant.com
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