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. Last Updated: 07/27/2016

Shares Drop 1.62%

MOSCOW -- Russian share prices slipped further Wednesday in nervous trade as political and economic uncertainty cast a cloud over the market, traders said.

They said that after opening below the previous close, prices on most indices slowly slipped throughout the day in speculative trade which was dominated by brokers.

The dollar-denominated Moscow Times Index of 50 leading shares fell 1.62 percent to 74.49 on turnover of $11.48 million. The RTS index dropped 2.66 percent to end at 94.18.

"The market isn't going to move until it is clear what is going on with the IMF legislation or we get something that knocks it out of its daze," said one Western trader.