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August 6, 2008 No Time to Panic By Sergei Balashov Russia Profile |
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No bigger mistake than investing money in Russian stocks could have been made in July. Over the week of July 25th, the RTS index fell in all categories, hitting rock-bottom following Putin’s unfavorable remarks on Russia’s largest metallurgy company Mechel. This caused agitation among investors who have already heard the news of declining oil prices and warnings of the economy overheating. Now, Russia needs to find a way to bring its stocks back up, soon.
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