|
|
 |
Russian Stock Market Up Big
The Russian stock market rose today. The MICEX index gained 6.5 percent to reach 666.89 points. The RTS index rose 4.59 percent to 732.59 points. Gazprom and LUKOIL were growth leaders on the MICEX, each rising almost 9 percent. Chief ATON analyst Vyacheslav Bunkov told RBC TV that the Russian market will continue to stabilize for the next two weeks.
There will be a positive environment for growth at least until the end of this week, with OPEC meeting to support oil prices and U.S. Federal Reserve Board chairman Ben Bernanke presenting a new stabilization package. The Russian market is already receiving the fund promised it by the government. Large purchases of government bonds are being observed. Specialists say the influx of money is good psychological support for the market and investors will pay more attention to companies with state shares, such as Rosneft, Gazprom, Gazprom Neft and Sberbank, since those companies are expected to see most of the new money.
BrokerCreditService analyst Boris Shein says that the market will not stabilize until the beginning of next year, however. Time is needed on the market to restore credit relations, he said. Government money will help, but its effect will not be immediate.
www.kommersant.com
|
|
|
