Expert forecasts further dynamics on Russian stock market

The Russian stock market saw a drop today, following the tendency observedon international exchanges. This tendency was determined by the situationon the US stock market, where indices of investor activity went down onFriday again. Commenting on the situation observed on the domestic RTS andMICEX exchanges, an expert from the Fora-Capital investment companyreported that the main factor influencing the stock dynamics, besides theUS market, was oil prices, which experienced a downward correction.All other factors have no important impact on the Russian market. It seemsthat traders decided there was enough negative news for the further fall instock prices. That is why prices have been falling since this morning.Earlier, stock prices were growing mostly due to domestic investors,despite a general negative news background in the USA. Taking into accountall these factors, the stock analyst forecasted that the Russian marketwould stabilize after a deep correction or a falling tendency wouldcontinue on declining US indices. The expert noted that the scale of thecorrection would depend on news coming to the market over the next two orthree weeks.In other words, the main reason for a fall on the Russian stock market isthe lack of positive news, the expert concluded. He explained that tradersdid not want to invest in stocks until the situation on the US marketclarified. In the event a fall continues on the US stock market, the RTSindex may drop to 290-300 points..