Shares of Russian IT companies rose in price after Putin's address

Shares of Russian IT companies have risen in price after Russian President Vladimir Putin announced a tax maneuver in the industry. Writes about this "Kommersant".

Thus, the papers of "Yandex" on the New York Stock Exchange by 20:05 Moscow time are growing by 3.6% to 48.6 dollars apiece.

by the same time Shares of Mail.ru Group on the London Stock Exchange rose by 9.3% to $22.2 per share. Shares of AFK "Sistema" in London by 20:10 Moscow time rose in price by 1.03% to 4.9 dollars.

According to Kommersant, before Putin's address, Sistema's papers were down 0.2%, Mail.ru Group's shares were up 6%, and Yandex's were up 0.5%.

• On June 23, Putin made a televised address in which he announced a reduction in the income tax rate for IT companies from 20% to 3%, and insurance premiums from 14% to 7.6%.