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Quotes to Move Sidewards on Russia’s Floors
Quotes will be moving sidewards on Russia’s floors today, October 28, Sergei Usichenko from Maxwell Asset Management forecasted in the live air of RBC-TV.
The U.S. floors closed down the positive news notwithstanding, the expert explained, pointing out that although the Asian markets posted certain gains, one cannot speak of a global positive trend yet.
The news environment wasn’t of single meaning before today’s opening, as the U.S. floors closed down by around 3 percent, mostly shedding in the last half an hour, said analysts of IG Kapital.
When Russia’s floors stood idle, most of ADRs were quoted below local levels. At the same time, Asian markets are growing this morning to adjust the steep decline of four days. The futures for U.S. indices are positive and a barrel of oil costs around $63.9, which matches the closing price of October 24.
Regardless, the morning growth didn’t survive for long in Russia. As of 11:00 a.m. MSK, MICEX fell 3.74 percent to 494.4; Rosneft and VTB led amid the losers. RTS sank 0.07 percent to 549.06 but managed to recover afterwards.
The trading on Russian floors (MICEX and RTS) was halted in the afternoon of October 24 to resume only today, October 28, 2008. The reason of the break was the index decline of over 10 percent.
www.kommersant.com
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