11 May 2004 08:58
Russian share prices fall 4%-6% as Western investors offload
MOSCOW. May 11 (Interfax) - Benchmark stocks shed 4%-6% as soon as trading on the Moscow Interbank Currency Exchange
(MICEX) opened Tuesday when Western investors unloaded Russian shares and local investors lacked the means to sustain a
challenge.
The drop followed a bad day for American Depositary Receipts traded by Russian companies, which ended Monday
1.5%-12.7% down on Friday's closing on the Russian Trading System (RTS), the Interfax Center for Economic Analysis
said.
Local investors, for their part, preferred to spend rubles on U.S. dollars than Russian shares. [RU ASIA EUROPE EEU
EMRG STX] pr
[Interfax] |
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