The RTS index closed up 0.26 percent, at 1,780 points on Friday, 0.57 points short of the all-time high.
Photo: Grigoriy Sobchenko
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RTS to Reach an All-Time High Next Week
The RTS index closed 0.6 points short of the historic 1,795 points on Friday. Analysts are sure, though, that the record will be broken early next week.
The RTS index closed at 1,780.51 points on Friday, 0.57 points short of the all-time high of 1,795 that the index reached on May 10. The index went up to 1,794.43 points by 6 pm, Moscow time, but fell down later. The benchmark added 0.26 percent on Friday, compared with Thursday.
Market watchers explain the result by peculiarities of trading at the RTS and calculation of the index. Roman Sarychev from the Renaissance Capital investment firm says that the index should have closed higher than 1,800 points “if you calculate the indicators with the prices at other exchanges, the MICEX or the LSE.”
Market participants predict that the new record will be set next week. “If the record did not happen this week, it will surely come next week,” Angelika Henkel of Alfa Bank told Kommersant.
Experts are convinced that another all-time high has good reasons to happen. “Overseas investors have been putting money into emerging markets, including Russia, since May,” Ovanes Oganesian, an analyst at Renaissance Capital, told Kommersant. “They thought that the slowing of world economy will take its toll on Russia’s economy, which never happened. What is more, nonresidents are now going back as Russia post reports of positive economic statistics.”
www.kommersant.com
All the Article in Russian as of Dec. 02, 2006
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