Upward correction starts on Russian stock market

The trade on the Russian stock market started amid an upward tendency after yesterday's drop. Sberbank and Uralsvyazinform shares grew by more than 1 percent in the first minutes of the trade on the Moscow Interbank Currency Exchange. At the same time the majority of blue chips remained at the positions of yesterday's close.

Negative information from world commodity and stock markets is offset by the appearance of foreign investors on the Russian market and the emerged necessity for an upward correction, ATON analysts believe. An advance in oil stocks is possible today after their sharp decrease on January 8, they said. A growth in Norilsk Nickel securities is not ruled out due to high world gold prices. Non-residents will play a major role on the market today, specialists think.