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

AB Bank SNORAS business loan portfolio has increased by 74 million Litas

On 30th April this year, AB Bank SNORAS business loan portfolio, in comparison to 31st December 2008, i.e. during the first four months of this year, grew by 74 million Litas or 3.8 per cent, while the business loan portfolio of the most banks operating in Lithuania was decreasing. more »

UK car sellers' pitch to the city

London's financial district, Canary Wharf is transformed into a giant car showroom. Dozens of manufacturers and dealers have flocked to this part of the city to show off their latest models. more »

Russia overtakes Spain, U.K. as largest ATM market in Europe

In the latest edition of its 2009 survey, "ATMs and Cash Dispensers Central and Eastern Europe," Retail Banking Research Ltd. says the 15 countries it has tracked in CEE have once again shown exceptional growth. more »

Another Five Winners of the Danske Bankas Monthly Scholarship Award have been Announced

During the draw another five winners of the Danske Bankas monthly Scholarship award (a one off payment to the amount of 250 litas) were announced. more »

Commission approves Swedish state guarantees for Volvo Cars

The European Commission has authorised, under the EC Treaty’s rules on state aid, plans notified by Sweden to provide guarantees that would enable Volvo Personvagnar to access loans from the European Investment Bank. more »

EU and Southern African countries sign interim deal

The European Union signed an interim Economic Partnership Agreement (EPA) today with Botswana, Lesotho and Swaziland. more »

EU previews jobs strategy

Commission proposes to immediately free up €19bn in earmarked funds to fight unemployment as recession takes its toll. more »

From 1 July 2009 Danske Bankas will introduce new fees for bank services and operations

Danske Bankas would like to inform all present and future customers that, as of 1 July 2009, the cash withdrawing fee from Danske Bankas' ATM network in Lithuania is to change. more »

Food labels revisited

One day not so far in the future, Europeans may be able to buy a loaf of bread knowing where the flour came from. more »

GM bankruptcy seen near

General Motors is getting closer to filing what would be the largest industrial bankruptcy in US history. more »