Moscow stock exchange rebounds by 2.25pc after plunge

MOSCOW: Russia's stock market bounced back Tuesday morning by 2.25 percent after plummeting by nearly five percent the previous session.

Moscow's dollar-denominated RTS index was up by 2.25 percent at 0700 GMT, while the ruble-denominated Micex index had gained 0.68 percent.

Russia's battered currency reached its lowest value this year on Monday as the euro passed the symbolic 80 ruble mark for the first time since December.

The ruble also dropped to more than 70 to the dollar as Asian and European stock markets nosedived over concerns about the Chinese economy.

At the opening of the stock exchange on Tuesday, the ruble had only slightly recovered. It stood at 69.5 to the dollar and 80.12 to the euro at around 0800 GMT.