Russian Stocks Extend Longest Losing Streak Since May on Rates
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Russia’s Micex Index extended its longest losing streak since May as investors speculated Bank Rossii will leave its main lending rates unchanged tomorrow and OAO GMK Norilsk Nickel declined to its lowest since 2009.
The benchmark Micex Index slipped less than 0.1 percent to 1,362.38 for a fifth day of declines. Nickel and palladium producer Norilsk fell by 3.6 percent to 4,106 rubles, the lowest since December 2009. VTB Group, the country’s second-largest bank, lost 1.5 percent in Moscow.