Russia Seeks Some Stock Market Stability

Published: 29 October 2003 y., Wednesday
The Russian stock market showed a tentative recovery on Tuesday, a day after a steep plunge prompted by the arrest and jailing of the head of the oil giant Yukos and Prime Minister Mikhail Kasyanov called for steps to stabilize Russia's financial markets. But one of the country's most prominent politicians warned the arrest of Mikhail Khodorkovsky could destroy investors' trust in Russia and an influential lawmaker called on the Prosecutor General's office to open an investigation of an oil company that is soon to merge with Yukos. Khodorkovsky was jailed Saturday on charges of tax evasion, fraud and forgery. Many perceive the four-month investigation into Yukos oil and his other companies as an attack organized by some of President Vladimir Putin (news - web sites)'s associates to avenge the tycoon's political activities, including funding of opposition parties in the run-up to the Dec. 7 parliamentary elections. Yukos shares and the Russian stock market closed higher on Tuesday, but the boosts did not offset the losses of Monday's trading. Yukos gained 3.3 percent after falling 15 percent a day earlier, and the benchmark RTS index rose 4.93 percent against Monday's 10-percent plunge. Boris Nemtsov, a leader of the liberal Union of Right Forces party, suggested in a newspaper interview that severe damage had already been done.
Šaltinis: story.news.yahoo.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.

Facebook Comments

New comment


Captcha

Associated articles

The most popular articles

European Globalisation Fund set to help workers in clothing industries in Spain

The European Commission approved an application from Spain for assistance from the EU Globalisation Adjustment Fund (EGF). more »

European Commission calls for saving time and money in cross-border legal disputes through mediation

The European Commission today reiterated the potential of existing EU-rules on mediation in cross-border legal disputes, reminding Member States that these measures can only be effective if put in place by Member States at national level. more »

New opportunities for export of animal products to Russia as certificates enter into force

Exports of animals and animal products from the European Union to Russia are expected to receive a boost after five new certificates for exports between the EU and the Russian Federation entered into force on August 15. more »

World Bank President Zoellick Completes Two-Day Visit To Moldova

World Bank Group President Robert B. Zoellick visited Moldova on August 11-12 at the invitation of Prime Minister Vlad Filat. more »

Profit of the first half of 2010 before loan impairment charges of Danske Bank A/S Lithuania branch is 28m LTL

These are the financial results of the banking activities of the Danske Bank Group in Lithuania (Danske Bankas and Danske Lizingas UAB). more »

First European Investment Bank loan to Armenia for Yerevan metro upgrade

The European Investment Bank (EIB) today signed its first loan agreement with Armenia. more »

Commission releases €14.9 million for food security to the Republic of Niger

Given the worsening food crisis in the Sahel, the Commission today agreed to disburse €14.9 million for food security in Niger, the worst affected country in the area. more »

Commission approves the acquisition of joint control of Arnotts by Anglo Irish Bank and RBS

The European Commission has cleared under the EU Merger Regulation the proposed restructuring of Arnotts' debts in return for a transfer of control to Anglo Irish Bank and Royal Bank of Scotland (RBS). more »

European Commission approves €135 million in grants to Morocco for 2010

The European Commission today approved a new financial support package of €135 million for Morocco. more »

The Commission allocates an additional €10 million package in humanitarian aid for Liberia

The European Commission is allocating an extra €10 million in humanitarian aid for Liberia. more »