Russia’s Micex Index Fell
- Friday, November 28, 2008, 8:42
Jeremy Gilbert
Managing Director
Barrelmore Ltd
Russia’s Micex Index fell to the lowest since 2004, led by OAO Rosneft and OAO Lukoil as crude oil futures dropped to a 22-month low.
The 30-stock Micex sank 8.5 percent to 510.47 at 10:33 a.m. in Moscow. The dollar-denominated RTS Index retreated 3.6 percent to 583.96.
Rosneft, Russia’s biggest oil producer, fell 7.2 rubles, or 8.3 percent, to 79, a record low. OAO Lukoil, the second-biggest producer, fell 9.5 percent to 752.06 rubles.
Crude oil for December delivery fell for a fifth day, sinking 1.4 percent to $52.86 a barrel in after-hours trading in New York, the lowest in almost 22 months.
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Jeremy Gilbert has written 1 stories on this site.
