Russia-exposed stocks lag skittish European indexes

martes 16 de diciembre de 2014 12:00 GYT
 

* Rouble's slide fuels fears for Russian economy

* Raiffeisen Bank Intl at record low, Carlsberg down 6.6 pct

* STOXX Europe 600 up 0.3 pct

By Francesco Canepa

LONDON, Dec 16 (Reuters) - Shares in European companies exposed to Russia lagged volatile regional indexes on Tuesday, as the rouble plunged in value and concern grew about the state of the Russian economy.

Shares in Raiffeisen Bank International, which relies on Russia for profits, fell more than 8 percent to a record low after Russia's aggressive hike in interest rates failed to convince investors the central bank had turned the tide on financial crisis.

Shares in other companies exposed to Russia also dropped. The brewer Carlsberg slumped 6.6 percent to a 2 1/2- year trough and German retailer Metro fell 2 percent.

The Russian economy has buckled and the rouble dropped because of Western sanctions and the falling price of oil, drawing comparison to 1998, when the government eventually defaulted on its debt.

"All markets will be governed by this (the rouble's slide)," said Justin Haque, a broker at Hobart Capital Markets. "It's 1998 again."   Continuación...