A trader works on MICEX. The news that Russian President Vladimir Putin named First Vice Premier Dmitry Medvedev as his favorite potential successor fueled the market.
Photo: Reuters
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Stock Market Surged on Successor News
The news that Russian President Vladimir Putin named First Vice Premier Dmitry Medvedev as his favorite potential successor fueled the market. Gazprom, where Medvedev chairs the BOD, soared 3 percent to lead the growth.
“This news is an extra surprise, the New Year present,” Andrei Milchenko from Aton Capital Group told RBC-TV in the live air, when commenting on reports that exactly Medvedev was Putin’s favored candidate. The rally that has been noticed in the recent days will go on and even intensify in such stocks as Gazprom, the trader forecasted.
Russia’s stock market is set for the growth practically in all segments. The news is very positive, as it manifests that reforms will continue in Russia and that our country will achieve great success, the trader said.
The name of successor is one of the most adequate for the stock market of Russia, said Sergei Usichenko, who heads the trust management department at Maxwell Capital. Russia’s market will probably gain roughly 10 percent by this year-end, the expert forecasted.
The foreign exchange market posts healthy gains as well. There, Russia’s ruble appreciated 8 kopecks to the U.S. dollar. The minimal deals, today settlement, were clinched at 24.4151 ruble/dollar, while the official rate of exchange was 24.4880 ruble/dollar.
www.kommersant.com
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