Moscow stock index steady as Vince Cable promotes trade with Russia

<p>Moscow’s stock index is steady as Vince Cable promotes trade between the UK and Russia.</p>

Moscow's key stock benchmark is steady in trading this morning (October 30th) following the business secretary's calls for British companies to pursue new exporting opportunities in Russia.

Speaking at an enterprise summit with Russia's first deputy prime minister Igor Shuvalov, Vince Cable revealed the UK is looking forward to working closely with its Eurasian partner and developing new opportunities that will deliver economic results for both nations.

The announcements made at the UK-Russia Intergovernmental Steering Committee on trade and investments included plans for manufacturing firm Tensar to build a plant in St Petersburg – safeguarding 150 jobs in Lancashire – and that a co-operation agreement between UK Export Finance and Russia's Export Credit Agency had been signed.

"Britain's trade with Russia is rapidly expanding and the opportunities will only continue to grow as its economy opens up further," Mr Cable stated.

At 09:20 GMT, the Moscow MICEX Index was stable at an index value of 1431.8 points.

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