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Russia Index Soared To Record

Russia's benchmark stock index soared to record levels

Russia's benchmark stock index soared to a record levels, driven by high market prices for crude oil and optimism about earnings, BBC World News reported.

Moscow's RTS had plummeted earlier because of the Kremlin?s fight with former national oil and gas giant Yukos.
Big and small investors lost money, Russia's reputation was dented and share prices suffered as a result.

But the drop made stock valuations look more attractive, and the potential for profits now seems to outweigh concerns.

The RTS index climbed as high as 789.48 points - an all-time record - before falling back to trade at 788.36, 0.8% higher than Monday's close.
That takes the RTS's gains to more than 28% this year.