Russia’s Micex Index Pares Yearly Gain Before U.S. Budget Talks
This article is for subscribers only.
Russian equities fell, paring their yearly advance, as U.S. lawmakers meet for talks to avoid spending cuts and tax increases that may hobble growth.
The Micex Index slid 0.2 percent to 1,474.72 by the close in Moscow for a 0.2 percent drop in the week. Of the 50 stocks in the gauge, 23 climbed, one was unchanged and 26 dropped. The measure has added 5.2 percent this year. OAO Mostotrest, the bridge and road builder part-owned by President Vladimir Putin’s judo partner Arkady Rotenberg, tumbled 7.8 percent. Steelmaker OAO Severstal sank 2.2 percent.