Downward Correction Continues on Russian Stock Market

The Russian stock market opened with a fall in the majority of securities today. Shares of Surgutneftegas plummeted 2.2 percent in the first several minutes of trade while other blue chips went down about 1 percent.

Stock analysts forecasted that a downward correction would continue on the domestic market today after a rise observed over several past weeks. In general, no significant changes in most share prices should be expected today despite a positive news background. Experts mentioned that the situation would also depend on stock trade in London and did not rule out that the RTS index could drop to 420 points or lower by the end of this week.