Russian stock market opens slightly higher - 28 February, 2003

The trade on the Russian stock market started with an inconsiderable growth in the majority of traded securities. Only Rostelecom shares have experienced a slight correction; Surgutneftegaz is easing back amid the news about dividend payments.

The situation on the market will be calm today and the RTS index is unlikely to exceed the 380-point level, experts believe. The correction of the oil market and a possible drop in US indices may trigger the selling of securities.

Some analysts believe that attempts to play for a rise are possible on the market due to the improvement of the situation on world stock markets (US and European indices closed higher yesterday). At the same time this morning US futures opened lower and quotations of the majority of Russian blue chips on the domestic market have been a bit higher than ADR quotations. A slight drop in world oil prices is unlikely to influence the market greatly, because oil prices have been on maximum levels over the past years, experts think.