Russian stocks resume trading

MOSCOW (AP) -- Russia's stock exchanges have resumed trading shortly before they were due to close.

Trading resumed late Friday afternoon after a volatile session saw stocks shoot higher.

They were rebounding off the government's efforts to rush through emergency measures that included more money for banks and purchases of shares to stem plunging prices.

Both RTS and MICEX bourses twice called a halt to trading after shares gained sharply, breaching technical limits.

The dollar-denominated RTS had climbed by 22.7 percent on Friday, while the MICEX soared by 31.4 percent.

Normal trading on both indexes was closed down on Wednesday and Thursday after the MICEX suffered one-day losses on a scale not seen since Russia's 1998 financial collapse.

(Copyright 2008 by The Associated Press. All Rights Reserved.)


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