| Other Photos |
 |
|
 |
Russian Stock Market Goes to Elections
// Quotations will fluctuate more and more
In the last two days, the RTS index played back the fall of the last two weeks, exceeding again the mark of 1800 points on Friday. Experts say this growth is primarily due to the activeness of Russian investors. Foreign funds act with caution. Russia’s stock market has entered the pre-election period with typical drastic fluctuations of quotations.
The RTS index overcame again the psychologically important level of 1800 points on Friday, and stopped at the mark of 1829.5 points (which is 2.76 percent higher than the closing level of the previous day). The growth made up 6.08 percent in two days. Consequently, the index played back the fall of the last ten days. It became the largest two-day growth of the index since mid-June 2006.
The stock market recent strengthening is due to the end of the period when Russian issuers were holding IPOs. Troika Dialog expert Vladimir Potapov estimated them at over $25 billion. Investors were reserving funds for the IPOs, selling security papers of other issuers. Thus, considerable sums were reserved for large IPOs of Sberbank and VTB. This wave of sales is over now.
Analysts say that Russia’s stock market is on the threshold of the pre-election period. Drastic fluctuations of share quotations are typical for it, because of long-term investors’ apprehensions. Experts forecast the stock market will fluctuate within the range of 1700-2000 points.
www.kommersant.com
All the Article in Russian as of June 02, 2007
|
|
|
