Downward trend prevails on Russian stock market

As it was expected, today's trade session on the Russian stock marketopened with virtually all stocks falling. Negative news from the US, wherestock indices posted a drop, allowed Russian stock market participants tofix profits after prices had been growing for the last few days. The onlyexception was Mosenergo's stocks, which are continuing to ride a wave ofspeculative growth: within the first few minutes after the opening of thestock trade session at the Moscow Interbank Currency Exchange (MICEX) thesestocks added nearly 0.5 percent in value. According to traders, it is quiteprobable that weak downward correction will prevail on the market today,and the activity of the trade session will hardly be too high. Tradeparticipants are currently focusing on futures for the US stock indices,specialists stressed. .

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