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Aug. 04, 2008
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Russia’s Market to Depend on USA This Week
The quotes are moving sideways on the stock exchanges of Russia today. RTS index grew 0.02 percent vs August 1 to 1,942.16.
The general expectation of analysts is that the stock market in Russia would be more or less still until the U.S. Federal Reserve System announces its decision on the rates (Tuesday, at 10:15 p.m. MSK). “Most probable is that the market will fluctuate near the Friday close. On Wednesday, we will move following the U.S. indices,” said Pallada Asset Management chief analyst Evgenia Kanakhina.

The sentiment of the better part of market players in Russia is negative, Troika Dialog Vice President Alexei Dolgikh told RBC TV in live air. Quite a few investors fear the domestic situation and the situation on crude oil and metal markets. Russia’s market has a chance to test the minimum and sink below, the analyst forecasted.

Mechel is another point of agitation today. Any statements and/or steps of the government in relation to that company would be of significance both for Mechel’s quotes and for the market in general.
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