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RIA Novosti

Business

Russia's stock market rallies on Bernanke's comments

10:50 25/02/2009
MOSCOW, February 25 (RIA Novosti) - Russia's two main stock exchanges, MICEX and the RTS, opened on Wednesday with their key indexes going up after comments by U.S. Federal Reserve Chairman Ben Bernanke.

In his testimony to U.S. Congress on Monday, Bernanke said that the recession in the world's largest economy could end this year and the U.S. monetary authorities had no plans to nationalize banks. The comments were welcomed by global trading floors, sending stocks up.

As of 10:45 a.m. Moscow time (07:45 GMT), the index of the ruble-denominated MICEX climbed 2.98% to 648.09 points while the dollar-denominated RTS surged 2.04% to 535.40 points.

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RIA NovostiRussia's stock market rallies on Bernanke's comments

10:50 25/02/2009 Russia's two main stock exchanges, MICEX and the RTS, opened on Wednesday with their key indexes going up after comments by U.S. Federal Reserve Chairman Ben Bernanke. >>

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