Aton Capital reports situation on Russian stock market

The Russian stock market opened with a significant rise in prices today, and a slight correction started closer to midday. By 2 p.m. the RTS index surged 2.41 percent on a rather high trade volume, which reached $7.3m. The leaders of this rise were RAO UES of Russia and Mosenergo energy utilities, whose stocks were falling most significantly recently. The Russian stock market is growing owing to a rise in international stock indices, Vladimir Detinich, an analyst from Aton Capital, reported in an interview with RBC. Another positive factor was a syndicated credit for $450m allocated by western banks to Sibneft oil company for capital investments. The company is going to increase oil production by 19 percent a year on average over the next several years. Among other factors that are having an impact on the Russian market the analyst mentioned almost unchanged brent oil prices on the London exchange, a rise in US future indices and a 2-3 percent growth on European exchanges.

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