Russian stock market opens higher - 4 December, 2002

The Russian stock market opened with an advance in the majority of securities today. It seems that a correction after yesterday's drop has started, as LUKoil shares added 1.6 percent at MICEX in the first minutes of the trade. It is quite possible that its shares may surge to $16, amid realizing the situation with the selling of the state stake in this oil company.

On the whole, the market is growing, despite the unfavorable news background. It is quite possible that the market will go up within the current levels between 350 and 360 points of the RTS index.

At the same time, according to Aton's analyst, external factors today are negative. US shares eased back sharply on Tuesday. Corporate news was mainly negative. The average drop of three indices was 1.7 percent. Oil prices advanced, however not as high as expected. Russian ADRs in the USA closed below the RTS levels. Futures contracts for US indices are falling, the analyst stressed. He expects a decrease on the domestic stock market today.