Russia: Trading suspended at surging Moscow stock exchange
Moscow, 17 June: Share trading at the MICEX [Moscow Interbank Currency Exchange] was suspended at 1825 Moscow time
[1425 gmt] due to the increase of the index over 8 per cent.
Interfax-AFI learnt at the MICEX that according to the ruling of the Federal Commission for the Securities Market, if
the trading floor index increases more than 8 per cent compared with the opening level, trading is suspended for one
hour. By 1825 the MICEX index had grown by 8.4 per cent and thus the trading, which ends at 1845 Moscow time, was
suspended for the rest of the day.
The growth of the index of the exchange was the result of the increase in the prices of majority of liquid securities
and first of all, Yukos, which gained over 30 per cent after the announcement by Russian President Vladimir Putin that
the government was not interested in the bankruptcy of the company.
Earlier, trading in Yukos shares was suspended for an hour from 1710 until 1810 for the same reason but when the
trading resumed, the surge continued.
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