RTS index goes up amid medium trade volume - 20 August, 2002

The Russian stock market opened with a slight rise today due to remaining demand for securities, however, a fall started almost immediately after the opening. As a result, stock prices went down to the levels reported at yesterday's closing in the middle of the day. By 2 p.m., the RTS index was up 0.86 percent amid a medium trade volume, which reached $7.3m, Vladimir Detinich, an analyst from Aton Capital, reported in an interview with RBC.

The expert noted that wholesale prices went up 2.6 percent in Russia in July 2002 as compared to June mostly due to a rise in prices for oil and oil products. Investments went up 3.3 percent last month versus the corresponding period last year, which was less than the GDP growth. He also reported that prices for brent oil had remained almost unchanged at the London exchange, at $27.2 per barrel, and US futures stayed at the same levels as yesterday despite slight fluctuations at the opening while European stock exchanges saw an about 1 percent drop.