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Russian shares bounce after being oversold, rouble down
July 29, 2014 / 6:11 AM / 3 years ago

Russian shares bounce after being oversold, rouble down

MOSCOW, July 29 (Reuters) - Russian stocks rose slightly on Tuesday after a deep decline in the previous session in anticipation of broader economic sanctions which could be imposed by the European Union on Russia this week.

“The Russian market has become seriously oversold and may see a moderate bounce (on Tuesday),” analysts at Uralsib wrote in a note.

At 0603 GMT, the dollar-denominated RTS index opened 0.2 percent higher at 1,211 points after falling 3 percent on Monday. The rouble-traded MICEX gained 0.6 percent to 1,370 points.

The rouble, however, extended its losses, opening 0.3 percent down against the dollar at 35.64 and trading now at 10-week lows.

Provided all 28 EU member states can agree, the new measures will target capital markets, defence and sensitive technology as well trade and investment restrictions on Crimea, which Russia annexed from Ukraine earlier this year.

For rouble poll data see

For Russian equities guide see

For Russian treasury bonds see

Russia in graphics: (Reporting by Lidia Kelly, editing by Elizabeth Piper)

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