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

Parex banka to expand relationship with American Express

Nils Melngailis, the Chairman of Parex banka, and Alex M Furber, American Express Vice President in Central and Eastern Europe, agreed to explore further options for co-operation. more »

Taiwan in 2.5bn dollar spree

Every one of the Taiwan's 23 million population has been given a voucher worth the equivalent of just over 100 U.S.dollars. more »

EU economy hit hard by global downturn

Commission cuts economic growth forecast as scale of financial crisis and ensuing global downturn become apparent. more »

After solid first quarter: Wincor Nixdorf reaffirms outlook, but attunes to economic crisis

Wincor Nixdorf AG completed the first quarter of the current fiscal year with 7 percent growth in net sales and an 8 percent increase in operating profit (EBITA). more »

Messy bedroom marketing

New homes go up in the UK's eastern county of Norfolk. There is also the unusual take on selling new homes. more »

Motorola Provides Preliminary Fourth-Quarter 2008 Results

Announces approximately 4,000 additional workforce reductions, primarily in the Mobile Devices business. Total cost savings from recent actions now expected to be approximately $1.5 billion in 2009. more »

MasterCard makes global, domestic organizational changes

MasterCard announces organizational changes. more »

Eurobarometer poll shows economic fears ahead of June European elections

Economic volatility , rising prices and a general pessimism about what the future holds were all opinions voiced in a recent “Eurobarometer” European survey. more »

Banking sales improve at Wincor Nixdorf, despite global economic downturn

Wincor Nixdorf AG says it exceeded its profit goals for fiscal year 2007/2008, which ended Sept. 30, despite a battered global economy and a slight drop in retail sales. more »

Aussie shoppers forget crisis

Across the country Australians are expected to spend over 10 billion U.S. dollars in post-Christmas sales. more »