Russian stocks drop 4-5 % at closing on Friday

Russian stock indices declined some 4-5 percent at Friday's closing with some shares hitting a one-year low on global economic uncertainties. As of 18:45 Moscow time, Russia's dollar-denominated RTS stock exchange fell 4.48 percent to 1,327.19 and the ruble-denominated MICEX index dropped 5.18 percent to 1,315.95. The losses added to Thursday's dramatic drops when the RTS index plummeted 8.61 percent to 1,388 and the MICEX index dropped 7.82 percent to 1,389. In Europe, France's CAC 40 index fell 0.32 percent to 2,772.79, Frankfurt's DAX by 0.70 percent to 5,127.84, Britain's FTSE 100 by 0.38 percent to 5,022.57, as of 14:57 Moscow time. The official exchange rate of Russian ruble for tomorrow settlement fell 20 kopecks to 32.10 to the dollar and 12 kopecks to 43.36 to the euro, while a bi-currency basket, comprising $0.55 and 0.45 euros, hit the upper limit of the floating currency corridor of 37.20 rubles at Friday's open, but then stabilized at 37.13.