Russian stock market fluctuating without single tendency
The situation on the RTS and MICEX exchanges is becoming more and more uncertain while the Russian stock market is consolidating, experts reported in an interview with RBC. They stated that stock prices were fluctuating without a definite tendency over the past few days. Some traders seem to start fixing their revenues reluctantly after a rise observed over the past several weeks and a following drop in world oil prices.
Analysts did not rule out that a correction would be observed on domestic stock exchanges in the near future. They stated that the current jumps in prices testify to the high activity of traders, and the market needed positive news from international exchanges to stabilize at last. Otherwise, a slow correction can continue for a rather long time. In this case, RAO UES stocks can stabilize at RUR 3.10-3.15 at MICEX.
According to preliminary forecasts, Russian oil stocks can drop by another 10-15 percent on average if world oil prices continue falling.
