Russian shares extend losses

Russian shares extended losses after a one hour trade suspension, hit by ratings agency Standard & Poors' downgrade of its outlook on Russia's sovereign rating and weaker US stock futures.
When trade resumed on the rouble-denominated MICEX exchange after a one-hour limit-down suspension, Norilsk Nickel led losses, falling 13.29 percent, and state savings bank Sberbank fell 9 percent. The MICEX index was down 6.64 percent, while the benchmark RTS index fell 3.24 percent to 644.18 points.