SUMMER IS TRADITIONALLY a quiet period for Moscow traders. They say goodbye to the smoggy capital and head for their dachas, leaving behind their positions in cash to avoid any nasty August surprises, such as the one in 1998 that wiped 55% off the RTS, the Moscow equity index.
This year, though, intrepid traders who decided to sweat it out in the capital rather than cool off in their rural retreats have been well rewarded. The RTS, having fallen to 630 in May, started to rise in June.
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