Russian stocks continue declining led by oil stocks

Russian stocks are continuing to decrease steadily today. The leaders interms of decline at the Russian Trading System (RTS) were oil stocks:within the first 1.5 hours Sibneft's stocks lost 4 percent, YUKOS - down3.68 percent, LUKoil - down 2.53 percent. The activity of the trade sessionwas pretty high, since the trade volume at the RTS currently runs at $6m.According to analysts, the market is beginning to react to the news fromthe world market, although a bit too late. One should not dismiss the factthat foreigners have started to sell a number of Russian blue chips moreaggressively. The RTS index is falling: it posted a decrease of 2.53percent to 338.76 points by 13:00. On the whole, the situation on theRussian stock market is currently characterized by a void of fresh ideas,and both traders and investors are keeping their eyes on the events in theUS and the world oil markets. .