The Russian Trading System Index closed yesterday at 782.40, a record high. The previous peak of 781.55 was set on April 12, 2004, days before authorities began filing $28 billion in tax claims against Yukos that resulted in the seizure of its largest unit. Stocks recovered amid an easing of concern that the government would take action against more companies.
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Russian Shares Rallied
Russia's benchmark stock indexes recovered from the losses
Russia's benchmark stock indexes recovered from the losses caused of Yukos investigations.
The rebound reflects a surge in oil prices that raised profits of such companies as Lukoil, Russia's largest oil producer, and prompted banks such as Citigroup Inc. to advise investors to buy more shares.
The Russian Trading System Index closed yesterday at 782.40, a record high. The previous peak of 781.55 was set on April 12, 2004, days before authorities began filing $28 billion in tax claims against Yukos that resulted in the seizure of its largest unit. Stocks recovered amid an easing of concern that the government would take action against more companies.
The Russian Trading System Index closed yesterday at 782.40, a record high. The previous peak of 781.55 was set on April 12, 2004, days before authorities began filing $28 billion in tax claims against Yukos that resulted in the seizure of its largest unit. Stocks recovered amid an easing of concern that the government would take action against more companies.
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