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Russia Stocks Retreat First Day In 4 While U.S. Budget Pushes Oil Lower
Dec. 04, 2012 09:21AM PST
Resource InvestingRussian equities fell for the first time in four days as crude oil, the nation’s main export earner, fell and investors sold riskier assets amid a deadlock in U.S. budget talks.
Russian equities fell for the first time in four days as crude oil, the nation’s main export earner, fell and investors sold riskier assets amid a deadlock in U.S. budget talks.
Highlights from market news:
– The Micex Index lost 0.7 percent to 1,411.83 by the close in Moscow. Utilities and financial stocks declined at least 0.9 percent on average
– Oil slid 1 percent to $88.19 a barrel in New York after U.S. President Barack Obama’s administration rejected a Republican budget plan, as the two sides try to avert more than $600 billion in automatic tax increases
– Standard & Poor’s GSCI Index of Commodities lost 0.9 percent to 644.78. Zinc, tin and nickel declined in London.