OREANDA-NEWS. April 12, 2010. Stocks and the ruble fell to the lowest level in a week Thursday as oil and metals slid and speculation a bailout package for Greece will unravel damped appetite for riskier assets, reported the press-centre of VTB Capital.

The MICEX Index fell as much as 1.2 percent before closing 0.1 percent lower at 1,476.59 in Moscow, its weakest since March 31. The ruble slipped 0.4 percent to 29.45 against the dollar.

Stocks in the world’s biggest energy supplier snapped the longest rally since 2005 Wednesday after advancing 8.8 percent in March on higher commodity prices.

Crude oil for May delivery dropped as much as 1.6 percent Thursday to USD84.48 in New York on concern a rescue package to help Greece cut Europe’s biggest budget deficit will founder, slowing the global recovery.

“Commodities have fallen and Greece is clearly in play again,” Clemens Grafe, chief economist at UBS in Moscow.

“An immediate solution to Greece’s problems is probably still a month away.”

The ruble weakened by 0.3 at 39.2450 per euro, leaving it 0.4 percent lower at 33.8602 against the Central Bank’s target currency basket, which it uses to smooth exchange-rate swings that hurt exporters.