Russian stock market opens with rise

The Russian stock market was rising confidently at the opening today. In particular, RAO UES was up more than 1.5 percent in the first fifteen minutes of trade on MICEX. A similar significant rise was reported for stocks of the Mosenergo Moscow energy utility. Yesterday the RTS index managed to stay at 340 points and the domestic stock market is not expected to move upwards towards 360 points.

Some experts, however, noted that this rise might not turn out to be large-scale. They explained that forecasts on a possible fall in oil prices after a war on Iraq was completed could have a negative impact on the dynamics of the Russian stock market.

Traders reported that the market was heading upwards currently due to rising energy stocks, and it remained unclear whether this would be sufficient for an upsurge.