Market Analysis

Valery Petrov, Director of MFK Bank's Conjuncture Analysis Department: Yesterday, Russian stocks continued to move up. The market opened with a gap up, thanks to investor optimism and a high close on the US market as well as positive conditions on the world oil market and the appearance of some nonresident orders on the Russian market. However, market players started taking profits in the afternoon, which resulted in a slight price correction. Yesterday's big gainer was SibNeft (+17.8%). Trading activity was high and the trade volume amounted to $29.55 million.

Today we can expect more advances, although one shouldn't rule out the possibility of a correction in some stocks.