Russian equities hit seven-month high on Putin 'victory'

Russian equities approached a seven-month high today as investors bet Vladimir Putin's return to the presidency will extend the market's ongoing rally.

Data from the 30-stock Micex Index (INDEXCF) gained 0.5% to 1,616 points in Moscow, according to Bloomberg, its highest close since August. Meanwhile, the dollar-denominated RTS Index climbed 0.7% to 1,738, also near a seven-month high. The gains come after Putin claimed a resounding victory in Russia's presidential election. However, the win has now provoked a furious response from opposition activists who say the vote was marred by widespread fraud. Putin won 63.8% of the vote, according to results from the Central Electoral commission, with 99.3% of ballots received. The Micex, ...