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Russian Companies Droop on LSE
Depository notes for Russia companies lost 10-20 percent on the London Stock Market this morning, reports Interfax. The LSE is practically the only trading space left for the stock of major Russian companies since the Russian Federal Financial Markets Service shut down the RTS and MICEX.
At 12:00 Moscow time, notes on Gazprom stock had fallen 10.7 percent. VTB was down 16 percent, Gazprom Neft down 13 percent. The loss leader was Tatneft, down 19 percent. Polyus Zolota was in the best shape was a loss of only 1.2 percent.
Investors worldwide are selling off shares today. In the United States, the Dow Jones closed down for the seventh time in a row, falling to the level of 2003. European markets lost 6-10 percent on opening. The Russian Federal Financial Markets Service closed down trading in Russia due to worries that the RTS and MICEX would collapse in the wave of selloffs. On October 9, Russian markets closed higher than they opened, gaining about 10 percent.
www.kommersant.com
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Photo: AP
