Russia's MICEX hits 2014 high after Putin renounces right to invade Ukraine

MOSCOW, June 24 Tue Jun 24, 2014 11:16am EDT

MOSCOW, June 24 (Reuters) - Russia's MICEX index hit a high for the year on Tuesday, extending gains after President Vladimir Putin asked the upper house of Russia's parliament to revoke the right it had granted him to order a military intervention in Ukraine.

The rouble-based MICEX rose 2.2 percent to 1,519 points, its highest since November, before closing at 1,518.

The dollar-denominated RTS index was up 3.8 percent at 1,421 points at the close, its highest since January. (Reporting by Olga Popova; Writing by Megan Davies; Editing by Alexander Winning and Kevin Liffey)