Sideways trend likely to continue on stock market

Analysts believe that a sideways trend is likely to continue on the stockmarket, following a decline in American and European market indicesyesterday. In general, the market will be awaiting a decision on theinterest rates by the Federal Reserve and the US stock market's reaction toit. The interest rates are most likely to remain at the present level. Sucha decision would be followed by a fall in the indices, since the level ofshare prices has already been based on the most positive expectations.Another negative factor is a decrease in Brazil's credit rating as well asgrowing yields for its bonds. As a rule, such changes lead to a fall inEurobond prices and shares in companies from other emerging markets. As forpositive news, one can mention a rise in world oil prices and in increasein prices of most Russian ADRs..

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