Surging RAO UES stocks push RTS index higher

A considerable rise is still observed on the Russian stock market amid demand for separate securities. Due to demand from a strategic investor, RAO UES shares reached a record high level after April 1998. As of 2: 10 p.m. (Moscow time) RAO UES surged by almost 10 percent. This led to an advance in the RTS index. It surpassed 470 points and reached a maximum level after the fall of 1997.

Stock analysts forecast positive dynamics will continue on the domestic stock market. Simultaneously, some analysts admit there was no single tendency on the market today. Except for rising shares of RAO UES of Russia and Norilsk Nickel, securities are seeing a sideways trend. Experts also reported that a rather high volume of deals on RAO UES shares was observed along with the low activity of traders in regard to other blue chips.

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