YELTSIN_S RESIGNATION RESULTS IN SOARING OF RUSSIAN SECURITIES.
Published:
8 January 2000 y., Saturday
Within a few hours of the opening of trading on December 31, trade in Russian blue chips in the Russian Trading System (RTS) rose by over 30%. Because the growth limit of the RTS was exceeded, the trading session ended early. This was the first instance of excessive trading in the RTS since the crisis in August 1998.
Within three hours of the opening of the RTS trade session on December 31, prices of Russian shares reached new heights. Ordinary shares of RAO EES Rossii rose 33%, LUKoil 28%, Surgutneftegaz 20.6%, and Mosenergo 25%. The collateral index of the RTS reached 177.71 points, which was the record level since July 21, 1998.
A rapid growth of Russian assets value was also registered in western markets. At the New York Stock Exchange, purchases of American depository receipts (ADR) for shares of the largest Russian companies rose 15%. According to Russian stock brokers, when the markets start functioning in 2000, the growth of Russian shares might continue.
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
An aviation agreement has been signed today by the European Union and the Vietnamese authorities which will remove nationality restrictions in the bilateral air services agreements between EU Member States and Vietnam.
more »
The European Investment Bank marked the 50th anniversary of the Republic of Cyprus and its 30 years of activity in the country with a public ceremony celebrating the signature of a total of EUR 180 million for urban environment.
more »
In response to the financial crisis, the Commission has put forward legislative proposals to strengthen and expand existing tools for coordinating economic and fiscal policy in the EU.
more »
In the first meeting of the SME Finance Forum, possible means to improve the current situation of access to finance were discussed, such as the introduction of a grace period for firms in difficulties, the involvement of credit mediators and improved loan guarantees.
more »
The EU budget is no simple matter, but then no budget ever is.
more »
Parliament will be crucial in avoiding a “lowest common denominator” approach when helping to design the EU's new economic governance architecture, ECB president Jean-Claude Trichet told the Economic and Monetary Affairs Committee on Monday.
more »
With a multitude of language-related events taking place on or around 26 September, the main themes for this year's European Day of Languages are business and jobs.
more »
The EU disbursed today € 1.15 billion to Romania, the third instalment of a € 5 billion loan, which was agreed in May 2009 as part of a multilateral financial assistance package.
more »
The European Investment Bank has agreed to lend GBP250 million for the replacement, reinforcement and expansion of the gas distribution networks operated by Scotland Gas Networks and Southern Gas Networks.
more »
The bargaining positions of all players in the human food chain must be rebalanced, and fair competition enforced by law, to ensure fair returns to farmers and price transparency to consumers, says Parliament in a resolution voted on Tuesday.
more »