BANKRUPT BANKER
Russian stock exchanges opened mixed on Monday after being suspended all day on Friday as stronger oil prices gave a boost to shares
Monday 13 October 2008
Russian stock exchanges opened mixed on Monday after being suspended all day on Friday as stronger oil prices gave a boost to shares but a decline in Russian shares in London on Friday added downward pressure.
Russia's benchmark index for rouble-denominated shares, the MICEX, was up 1.78 percent at 0648 GMT at 714 points, while the RTS index for dollar-denominated shares was down 2.76 percent to 821 points.
As trading in Russian stocks on local bourses became erratic after the market watchdog ordered the suspension of trade more than a dozen times in recent weeks, volumes drifted to London, where Russian Global Depositary Receipts trade.
On Friday, the FTSE Russia IOB index, which contains some of the most liquid Russian GDRs, closed down 10.2 percent on the day, shrugging off news that Russia could start buying shares to support the market in the next few days.
