Russian stocks resume trading
Sunday, 21 September 2008
MOSCOW, Sept 20 (AP): Russia's financial markets closed up by more than 20 per cent Friday after a volatile session that saw trading suspended twice as stocks shot higher.
The RTS and MICEX stock exchanges were rebounding off the government's efforts to rush through emergency measures that included more money for banks and purchases of shares to stem plunging prices.
Trading was halted twice after shares gained sharply, breaching technical limits. It resumed shortly before the markets closed.
Normal trading on both indexes was shut down Wednesday and remained closed Thursday after the MICEX - where most trading takes place - suffered one-day losses on a scale not seen since Russia's 1998 financial collapse.
The RTS and MICEX stock exchanges were rebounding off the government's efforts to rush through emergency measures that included more money for banks and purchases of shares to stem plunging prices.
Trading was halted twice after shares gained sharply, breaching technical limits. It resumed shortly before the markets closed.
Normal trading on both indexes was shut down Wednesday and remained closed Thursday after the MICEX - where most trading takes place - suffered one-day losses on a scale not seen since Russia's 1998 financial collapse.