Khodorkovsky Amnesty Bets to Spur Rally: Russia Overnight - Bloomberg:
"Prospects that Mikhail Khodorkovsky, the former Russian billionaire jailed a decade ago, will be freed in an amnesty program is leading Swedbank Robur and Prosperity Capital Management to predict a stock market rally.
The government is considering pardoning Khodorkovsky, whose case came to represent investor concern about the rule of law in Russia, as soon as next week, Mikhail Fedotov, the human rights adviser to President Vladimir Putin, said yesterday. The benchmark Micex Index, which plunged 13 percent on the day the former owner of Yukos Oil Co. was arrested in 2003, pared losses yesterday on Fedotov’s comments before closing down 0.7 percent. The Bloomberg Russia-US Equity Index fell 0.3 percent.
Freeing Khodorkovsky, whose oil company was seized by the government after he was convicted of fraud, would signal Putin is seeking to address the human rights and corporate governance concerns that have spurred the biggest outflows from Russian equity markets since 1996, according to Prosperity Capital. "
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