* Stocks extend losses, fall 1.4 pct on growth, Greece worry
* Russian equities down more than 3 pct; rouble loses 0.7
pct
* Hungary forint at 3-week low vs dollar
* Lira at 5-week low, down 1 pct
By Philip Baillie
LONDON, March 6 (Reuters) – Emerging equities
retreated to three-week lows on Tuesday, hurt by worries over
slowing world growth and the looming deadline to complete a
Greek debt restructuring deal while political risks fuelled a 3
percent selloff on Russian stocks.
MSCI’s emerging markets index fell 1.4 percent,
extending Monday’s losses. The index has lost 2.7 percent this
week, so far the worst weekly performance since mid-December.
“Markets seem to have lost some of their buoyancy from
recent days as there seem to be a few more worries ahead of the
conclusion of Greek negotiations,” said William Jackson, an
economist at Capital Economics in London.
Greece and its creditors are in the final stages of talks to
cancel more than 100 billion euros ($132 billion) in private
sector debts. The deadline is Thursday night.
Continued…
