Russian Stocks Pause After Rise to 16-Week High as Gazprom Drops - Bloomberg:
"The Micex Index (INDEXCF) was little changed at an almost four-month high after trading in Moscow was halted for more than an hour.
Russia’s main equities gauge was down less than 1 percent at 1,490.57 by 1.50 p.m. in Moscow. It had gained 1.4 percent in the three previous sessions to the highest since Feb. 18. Twenty-four stocks rose, with 25 retreating. OAO Gazprom declined 0.2 percent.
The Micex entered a bull market on June 6 after climbing 20 percent from a low on March 14, spurred by optimism that the crisis in Ukraine was easing, as valuations of Russian companies remained cheap. State-controlled gas company Gazprom agreed to extend until June 16 the deadline before Ukraine will be switched to prepayments for natural gas supplies as negotiations continue to reach a European Union-brokered deal."
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