Economics
Russia Stocks Posting World’s Biggest Drop on Elections, Oil
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Russia’s RTS Index, the world’s best-performing stock gauge in the first three months, is sliding the most this quarter as oil falls, economic growth slows and concern builds over who will vie for president in 2012 elections.
The RTS has lost 12 percent since March 31, the most among equity measures in the world’s 40 biggest markets. Investors pulled $353 million from Russian stock funds last week, the biggest outflow since 2006, EPFR Global data show. The RTS may extend declines to a level 20 percent below its 2011 peak, UralSib Financial Corp.’s Christopher Weafer said May 22.