Russia Stocks Erase Gain on Poroshenko Warning as Sistema Slides
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The Micex Index erased earlier gains in Moscow as AFK Sistema extended a drop following owner Vladimir Evtushenkov’s arrest and after Ukraine’s president said Russia poses a threat to global democracy.
The benchmark equities gauge closed less than 0.1 percent lower at 1,448.63 in the capital after rising as much as 0.7 percent. Sistema sank 5 percent, taking its two-day plunge to 40 percent. OAO Mobile TeleSystems, of which Sistema owns 51.46 percent, climbed from the steepest loss in more than two months, adding 0.6 percent today. OAO Bashneft, another Sistema business, fell 2.7 percent, stretching its 21 percent slide.