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Stocks Plunge on UES Fears, Potanin Rumors, THE MOSCOW TIMES.

Publication: Finance Wire

Publication Date: 30-APR-04
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COPYRIGHT 2004 FDCH e-media

Original Source: Emerging Markets Datafile

URL: http://www.themoscowtimes.com/

The market suffered its steepest decline since the October arrest of Mikhail Khodorkovsky on Thursday after the government moved to renationalize Russia's largest hydro plant and rumors spread that an arrest warrant had been issued for businessman Vladimir Potanin.

Spooked investors traded more than $600 million in stocks on the dollar-denominated RTS and the more liquid MICEX, driving both bourses' indices down more than 5 percent.

Prosecutors denied widespread rumors that they either had arrested or intended to arrest Potanin, but that did not stop the decline of his metals giant, Norilsk Nickel, which closed down 10 percent.

Ekho Moskvy radio reported late...

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