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Article: Stocks dip briefly on Fed news, Avtovaz posts gains.
- Article from:
- Russia & CIS Business and Financial Newswire
- Article date:
- March 29, 2006
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Stocks dip briefly on Fed news, Avtovaz posts gains
MOSCOW. March 29 (Interfax) - The Russian stock market dipped after the Federal Reserve increased interest rates and on its subsequent commentary, which suggested that the Fed will continue to hike rates.
However, the drop was short-lived and the market has stabilized by Wednesday afternoon. The RTS Index is hanging on above 1,400.
By 12:30 p.m. Moscow time, benchmark stocks changed 1% in both directions on the Russian Trading System (RTS) and the Moscow Interbank Currency Exchange (MICEX). The RTS index fell 0.5% to 1407.57 and the MICEX 0.23% to 1270.14.
Yukos (RTS: YUKO) led the ...